第006章6贴现现金流.pdfVIP

Chapter 6 Discounted Cash Flow Valuation McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, . s . Chapter Outline • Multiple Cash Flows: Future and PresentValues • Multiple Equal Cash Flows: Annuities and Perpetuities • Comparing Rates: the Effect of Compounding • LoanTypes • Loan Amortization 6 - Chapter Outline •Multiple Cash Flows: Future and PresentValues •Multiple Equal Cash Flows: Annuities and Perpetuities •Comparing Rates: the Effect of Compounding •LoanTypes •Loan Amortization 6 - Single Cash Flows In the previous chapter, we used single cash flows and moved them forward and backward in time. Today 1 2 3 4 5 PV Compounding FV Today 1 2 3 4 5 PV Discounting FV 6 - Multiple Cash Flows What if we have more than one cash flow? The concept (and formula) are identical if we simply look at the problem as a series of single payments. 6 - Multiple Cash Flows Future Value 1 Suppose you have $1,000 now in a savings account that is earning 6%.You want to add $500 one year from now and $700 two years from now. Today 1 Year 2 Years $1,000 $500 $700 ? How m