公司金融-财务工具培训.doc

公司金融 财务工具 第二章 货币的时间价值 1 第一节终值和利率 ?终值 FVn =C*(1+r)n ?银行存款的利息计算方式 ?活期 ?定期 ?贷款？房贷（等额本金，等额本息） 2 时间价值的规则 a)只有同一时间点上的价值才可比较或合并 b)时间线上向前移，需复利计算 c)时间上后移现金流，需对其折现 3 第2条原则 To move a cash flow forward in time, you must compound it. Suppose you have a choice between receiving $1,000 today or $1,210 in two years. You believe you can earn 10% on the $1,000 today, but want to know what the $1,000 will be worth in two years. The time line looks like this: 4 ? Time line ? Future Value of a Cash Flow FVn = C ? (1 + r) ? (1 + r) ? ? (1 + r) = C ? (1 + r) n time