资金时间价格(国外英语资料).doc

资金时间价格(国外英语资料) Time value of money [knowledge point 1] the concept of time value of money 1. definition: the time value of money refers to the difference in the value of a certain amount of money at the same time. [tips] two main points: (1) different points of time; (2) value difference 2. quantity of regulation (that is how to measure) In theory, the time value of money is equal to the average capital profit rate without risks and without inflation. In actual work - the value of government bonds at a low inflation rate can be used to represent the value of time. [1] Treasury bills are securities with little risk. The interest rate can represent the time value of money. () [answer number 609030101] The correct answer * If inflation is very low, the interest rate can represent the time value of money. [2 multiple choice questions] the following items represent the time value of money. A. net interest rate B. social average capital profit margin C. inflation rate, treasury bond yields at very low levels, D., without taking into account the risk-free yield on inflation [answer number 609030102] The correct answer, ACD The answer analytical rate not only contains the time value factor, but also contains the value at risk and inflation rates, therefore, the time value of money equivalent to no risk and inflation situation, therefore, the pure interest rate is the time value of money, so A is right; because the average social profit rate on funds including risk and inflation, so B wrong; because Treasury almost no risk, so the inflation rate is extremely low, can use the Treasury interest rates said the time value of money, therefore, C is correct; the risk-free rate of return is the capital time value and inflation compensation rate and inflation, the risk-free rate of return is the time value of money, so, D right. [knowledge point 2] final value and present value I. The concept of final value and present value The 1. terminal also called future value, is now a certain