公司理财教材新讲义（2）--巫跟懋.pptVIP

Capital Investment Decisions 2.1 Net Present Value 2.2 Project Valuation in a Riskless World Fisher’s Principle 2.3 Present Value and Compounding 2.4 Present Value with Special Cash Flows (RWJ Ch 3, 4) Investment Decision Example 1: Suppose an investment that promises to pay $10,000 in one year is offered for sale for $9,500. Your interest rate is 5%. Should you buy? 2.1 Net Present Value : FV and PV Net Present Value The Net Present Value (NPV) of an investment is the present value of the expected cash flows, less the cost of the investment. Net Present Value as t