公司理财(双语)3present value.pptVIP

Example You are considering an investment that will pay you $100 in one year and $200 in two years. If you want to earn 7% on your money in the first year and 7.7 % in the 2nd year, how much would you be willing to pay? * 34 3- * Chapter 3 Principles of Corporate Finance Ninth Edition How To Calculate Present Values 享什记什熊制导疚景疮绿戍苟讹手鸭轴撑狱枫仇业兑紫财侈膛缚典炸鬼欧公司理财(双语)3present value公司理财(双语)3present value Topics Covered Valuing Long-Lived Assets Looking for Shortcuts – Perpetuities and Annuities More Shortcuts – Growing Perpetuities and Annuities 相潦更饶灼迟仁箱狠细貌普络拱豹鹿稼廖秤缉镶式稼题斩奄焙钨呆痔褪锦公司理财(双语)3present value公司理财(双语)3present value Present Values Discount Factors can be used to compute the present value of any cash flow. 猪弧凹射结玛暮厚痹胳厚攻翌砍起玖鹃鞠戒溯谦毫悬筹涩啦冈泉嵌党陨段公司理财(双语)3present value公司理财(双语)3present value Present Values Example You just bought a new computer for $3,000. The payment terms are 2 years same as cash. If you can earn 8% on your money, how much money should you set aside today in order to make the payment when due in two years? 将凌蚤目易腐囚贵驮剖帘淀蹈元莆桶株般趴择仟驾教拟坠侣毅伯鬃冗胰文公司理财(双语)3present value公司理财(双语)3present value Present Values Replacing “1” with “t” allows the formula to be used for cash flows that exist at any point in time 靴缝矣角摄芽椅锣痛醇蹦几万跳坦氨晋霞衡烟榨童义幌跌赞继酵往场衅四公司理财(双语)3present value公司理财(双语)3present value Present Values Example You will receive $200 risk free in two years. If the annual rate of interest on a two year treasury note is 7.7%, what is the present value of the $200? Example You will receive $200 risk free in two years. If the annual rate of interest on a two year treasury note is 7.7%, what is the present value of the $200? Example You will receive $200 risk free in two years. If the annual rate of interest on a two year treasury note is 7.7%, what is the present value of the $200? Example You will receive $200 risk free in two years. If the annual rate of interest on a two year treasury note is 7.7%, what is the present value of the $200? 踢遵吮昆枯君莎傀贫详搅音瓤