本金平均摊还.ppt

* * * * * * Scientific Computing: Compounding Compounding複利 張智星 (Roge Jang) jang@ /jang 台大資工系 多媒體檢索實驗室 The Euler’s Number Euler’s number: Proof by binomial theorem (二項式定理): Quiz! Quiz! Compounding (複利) 故事 國王和棋盤 一莫耳的新台幣有多少？為什麼領18%是老賊？ Credit cards (Annual interest rate: 2.74%~20%) George Mary現金卡廣告（救急免利） 2006年，台灣有70萬人淪為卡奴，平均欠款數100萬新台幣… (wiki) 20K payment per month, 4 years to clear the debt ? Wrong! It takes 8 years to clear it! 10K payment per month, 8 years to clear the debt ?Wrong! You cannot even pay off the interests! Basic Formula for Compounding Basic formula Example Initial investment: 1000 Annual interest: 3% No. of periods: 20 years Quiz! This is the formula used by banks! Periodic Compounding Periodic compounding Formula: Example Monthly compounding Daily compounding 年利率=r ? 月利率=r/12 ? 日利率=r/365 Continuous Compounding Continuous compounding Formula: Example: Comparison Effect of compounding at various frequencies, with an initial investment of 1000 and 20% annual interest. (wiki) Rule of 70 Goal A quick method to estimate the doubling time of an investment Also known as Rule of 72 Rule of 69 Reference Wiki Formula T*r=70 T=doubling time in year r=annual interest rate (%) Example: r=1% ? T=70 r=3% ? T=23.3 r=18% ? T=3.9 r=20% ? T=3.5 Quiz! How to Derive the Rule of 70 3 Ways of compounding to derive the rule Formulas: Examples: Quiz! Time Value of Money Time value of money The value of money usually increases with time (if invested properly). 現金流量表 在時間軸上秀出收入及支出，並以期末（或期初）總值來判斷投資是否划算 當期收入 當期支出 期末總支出 期末總收入 average principal amortization Mortgage Computation Problem 銀行貸款100萬，20年還清，利率固定為3％，請問每個月還款金額？ 銀行傳統 利率 ? 年利率 複利計算方式 ? 以「月」為單位來計算複利 Types of Mortgage Payment Typical types of mortgage computation (source) 本息平均攤還 本金平均攤還 Examples Payment derivation Comparison 線上試算 本息定額攤還、本息等額攤還 本息平均攤還：月付額 (1/2) 現金流量圖 Formula Here r is monthly interest rate 本息平均攤還：月付額 (2/2) 現金流量圖 Formula Quiz 本息平均攤還：本金及利息每期分攤 現金流量圖 本金及利息每期分