财务管理第三章时间价值汇总.pptVIP

FVADn = R(1+i)n + R(1+i)n-1 + ... + R(1+i)2 + R(1+i)1 = FVAn (1+i) Overview View of anAnnuity Due -- FVAD R R R R R 0 1 2 3 n-1 n FVADn i% . . . Cash flows occur at the beginning of the period FVAn = R (FVIFAi%,n) FVA3 = $1,000 (FVIFA7%,3) = $1,000 (3.215) = $3,215 Valuation Using Table III FVADn = R (FVIFAi%,n)(1+i) FVAD3 = $1,000 (FVIFA7%,3)(1.07) = $1,000 (3.215)(1.07) = $3,440 Valuation Using Table III PVAn = R/(1+i)1 +