基础会计(英文版)(第二版)Supplement3ApplicationsofPresentValue教材教学课件.pptVIP

Supplement 3 Applications of Present Value The Concept of Present Value The present value of an expected future cash receipt is the amount that a knowledgeable investor would pay today for the right to receive that future amount. The present value depends on three factors: The expected money amount to be received in the future The length of time until the future amount will be received The rate of return (called the discount rate) required by the investor. The Concept of Present Value P = present amount F = Future amount PT: the length of time ?FPT: the discount rate FT: the diffe