[金融学原理英文第五单元课后答案.docVIP

CHAPTER 5 ANSWERS The return associated with any investment is based on the change in the investor’s wealth. Any income (interest or dividend) received by the investor changes his or her wealth. In addition, if the investor sells the investment for a price that differs from what was originally paid, wealth is affected. As a result, an investor’s change in wealth (return on an investment) is measured by both the income received from the investment and the change in value of the investment. 5-2 Regional mortgage rate differentials do exist, depending on supply/demand conditions in the dif