logo

您所在位置网站首页 > 海量文档  > 教育文化 > 教育文化

TOPIC 2 Time value of money必看课件资料.ppt 45页

本文档一共被下载: ,您可全文免费在线阅读后下载本文档。

  • 支付并下载
  • 收藏该文档
  • 百度一下本文档
  • 修改文档简介
全屏预览

下载提示

1.本站不保证该用户上传的文档完整性,不预览、不比对内容而直接下载产生的反悔问题本站不予受理。
2.该文档所得收入(下载+内容+预览三)归上传者、原创者。
3.登录后可充值,立即自动返金币,充值渠道很便利
Example Mortgages You would like to buy a house worth $400,000. If you make a 20% down payment, or $80,000, you can get a 30-year, 8% APR mortgage on the remaining $320,000. The mortgage requires you to make a flat monthly payment for the life of the loan. What will the monthly payments be? · 360 monthly payments · Monthly interest rate = 0.08 / 12 = 0.00667 · PVAF(360, 0.00667) = 136.28 · C = 320,000 / 136.28 = $2,348.14 Example Inflation Inflation - Rate at which prices as a whole are increasing. Nominal Interest Rate - Rate at which money invested grows. Real Interest Rate - Rate at which the purchasing power of an investment increases. ASSET EVALUATION TOPIC 2 Time Value of Money Topics Covered Present Value & Future Value Annuity & Perpetuity Effective Annual Interest Rate Inflation Currencies Present Value Present Value Value today of a future cash flow. Discount Rate Interest rate used to compute present values of future cash flows. Discount Factor Present value of a $1 future payment. Calculation Recommendations Four primary approaches to solving the problems. Using the formulas and a standard calculator. You will need basic algebra skills and a calculator that will raise numbers to a power and take roots. Using a financial calculator. A wide variety of financial calculators are available, in a wide range of prices. Using Excel on a personal computer. Excel contains built-in functions that will perform most Time Value of Money calculations. Using tables from the text. Before the ready accessibility of computing power, this method was used for all TVM problems. Definitions and Abbreviations annuity: a series of payments or receipts having three specific characteristics, also called ordinary annuity or annuity in arrears(迟付年金). annuity due(即付年金): an annuity where the payments occur at the beginning of evenly spaced time periods. CF0, CF1 , etc: cash flows, a series of payments or receipts or both. EAR: effective annual [interest] rat

发表评论

请自觉遵守互联网相关的政策法规,严禁发布色情、暴力、反动的言论。
用户名: 验证码: 点击我更换图片

“原创力文档”前称为“文档投稿赚钱网”,本站为“文档C2C交易模式”,即用户上传的文档直接卖给(下载)用户,本站只是中间服务平台,本站所有文档下载所得的收益归上传人(含作者)所有【成交的100%(原创)】。原创力文档是网络服务平台方,若您的权利被侵害,侵权客服QQ:3005833200 电话:19940600175 欢迎举报,上传者QQ群:784321556