LearningAboutReturnandRiskfromtheHistoricalRecord幻灯片.pptVIP

CHAPTER 5;Factors Influencing Rates;Real and Nominal Rates of Interest;Equilibrium Real Rate of Interest;Figure 5.1 Determination of the Equilibrium Real Rate of Interest;Equilibrium Nominal Rate of Interest;Taxes and the Real Rate of Interest;Comparing Rates of Return for Different Holding Periods;Example 5.2 Annualized Rates of Return ;Formula for EARs and APRs;Figure 5.2 Interest Rates and Inflation, 1926-2005 ;Figure 5.3 Nominal and Real Wealth Indexes for Investment in Treasury Bills, 1966-2005 ;Risk and Risk Premiums;Ending Price = 48 Beginning Price = 40 Dividend = 2 HPR = (48 - 4