武汉大学夏令营考研--公司金融-第02章 货币的时间价值.ppt

公司金融 Which would you prefer -- $100,000 today or $100,000 in 5 years? Should you get your master degree？ How should you arrange your plans for good dreams? (town house, BMW, spacewalk) 第二章 货币的时间价值 一、货币为什么具有时间价值？ 二、单利与复利 三、现值与终值 四、永久年金 五、连续复利 一、为什么货币具有时间价值? Why is TIME such an important element in your decision? TIME allows you the opportunity to postpone consumption and earn INTEREST. What Would Represent the Time Value of Money? No risk, no inflation. Interest rate of T-bills (one-year) (in America) 一年期基准存款利率（in China) Interest Rates In China ( ) 二、单利与复利 Compound Interest Interest paid