第一次作业答案.docxVIP

第一次作业答案（1－4） Question 1 a. b. c. The present value of ￡100 received five years from now is 100 PV ? ? ￡62 .09 ? ? 5 1 ? 0 .10 The present value of ￡1000 received 60 years from now is 1000 PV ? ? ￡3.28 ? ? 60 1 ? 0 .10 The present value ￡100 received each year beginning one year from now and ending 10 years from now is 100 100 ? ? ?10 PV ? ? 1 ? 0 .10 ? ￡ 614 .46 0 .10 0 .10 d. The present value of ￡100 received each year beginning one year from now and continuing forever is 100 PV ? ? ￡ 1000 .00 0 .10 Question 2 0 .08 12 ? ? a. i. EAR ? ?1 ? ? ? 1 ? 8 .30 % 12 ? ? 0 .08 2 2 ? ? ii. EAR ? ?1 ?