《利息理论》等额年金知识分析概要1.pptVIP

* Example Kathryn deposits 100 into an account at the beginning of each 4-year period for 40 years. The account credits interest at an annual effective interest rate of i. The accumulated amount in the account at the end of 40 years is X, which is 5 times the accumulated amount in the account at the end of 20 years. Calculate X. * Solution The effective interest rate over a four-year period is: * 4、延期年金（deferred annuity） 含义：推迟m个时期后才开始付款的年金。 延期年金现值为 * 例： 某年金共有7次付款1，分别在第3期末到第9期末依次支付。求此年金的现值和在第12期末的积累值。 * 5、永续年金（Perpetuity） 永续年金：可以持续支付下去的年金，没有结束日期。 表示期末付的永续年金（perpetuity-immediat