公司理财(罗斯)第4部分(英文)学习课件.pptVIP

* If you can do this on the first try, you’re an “A” student. * If you can do this on the first try, you’re an “A” student. 4-* Is called an annuity factor, it is expressed as ArT , it stands for the present value of $1 a year for T years at an interest rate of r. 4-* Annuity Intuition An annuity is valued as the difference between two perpetuities: one perpetuity that starts at time 1 less a perpetuity that starts at time T + 1 0 1 C 2 C 3 C T C 4-* Annuity: Example If you can afford a $400 monthly car payment, how much car can you afford if interest rates are 7% on 36-month loans? 0 1 $4