前导课-金融计算器的使用演示课件.pptVIP

FV of Single Sum What is the future value of $200 invested today for four years when the interest rate is 10% N=4 I/Y=10 PV=-200 PMT=0 FV=? FV=292.82 精选 PV of Single Sum What is the present value of $200 to be received in four years when the interest rate is 10% N=4 I/Y=10 PV=? PMT=0 FV=200 PV=-136.60 精选 PV of an Ordinary Annuity Ordinary annuity: A stream of equal CFs at equal intervals paid at end of each period For the above problem we keep the calculator in END mode indicating that the cash flows arise at the end of periods N=4 I/Y=10 PV=? PMT=200 FV=0 PV=-633.97 精选 FV of an Ordinary Annuity N=4 I/Y=10 PV=0 PMT=-200 FV=? FV=928.2 精选 PV of an Annuity Due Annuity Due: CFs at the beginning of each period therefore we will need the calculator in BGN mode. Note that T1 is a point in time and represents the end of the first period or the beginning of the second period N=4 I/Y=10 PV=? PMT=200 FV=0 PV=-697.37 精选 Clear the Memory Keys 精选 Time Value of Money Keys The current asset base of your client is 100,000, every month, he could invest another 1000, if the return on his investment is 8% per annual, how many years later could your client accumulate 500,000 to prepare for his retirement N=? I/Y=8/12 PV=100,000 PMT=1,000 FV=-500,000 CPT N = 143.80， ÷12=11.98 After 12 years, he could reach his target and start to retire. 精选 Time Value of Money Keys Example: Your client has borrowed a mortgage loan of 500,000, the mortgage rate is 6%、the tenor of the loan is 20 year，the client will pay the same amount of cash to pay back the loan each month，what will be his monthly payment? N=240 I/Y=6/12=0.5 PV=500,000 PMT=? FV=0 PMT=-3582.15 精选 Valuing a Semi Annual Coupon Bond Buzacky LTD issued a bond some years ago. The bond has 3 complete years outstanding and pays a 8% semi annual coupon. Bond of equivalent risk have BEYs of 10% in the market. What is the current price? Number of periods 3 x