ְм

5	5%	6%	7%	8%
P/F, i,5	0.7835	0.7473	0.7130	0.6806
P/A, i,5)	4.3295	4.2124	4.1000	3.9927

Ҫ󼰴𰸣
1 A˾׹˾ծȯļֵʡ
׹˾ծȯļֵ=1000×8%×(P/A6%5)+1000×(P/F6%5)
=80×4.2124+1000×0.7473=336.992+747.3=1084.29(Ԫ)
Ϊ7%
1000×8%×(P/A7%5)+1000×(P/F7%5)=328+713=1041Ԫ
Լ׹˾ծȯ=7%
2 A˾ҹ˾ծȯļֵʡ
˾ծȯļֵ=(1000×8%×5+1000)×(P/F6%5)
=1400×0.7473=1046.22Ԫ
Ϊ5%
1000×8%×5+1000×P/F5%5=1400×0.7835=1096.9Ԫ
ҹ˾ծȯ=5.93%
3 A˾˾ծȯļֵ
˾ծȯļֵ=1000×P/F6%5=1000×0.7473=747.3Ԫ

ۼסҡֹ˾ծȯǷͶʼֵΪA˾ծȯľߡ
ڼ׹˾ծȯļֵۣԼ׹˾ծȯͶʼֵҹ˾ͱ˾ծȯļֵۣԲͶʼֵ
5A˾򲢳м׹˾ծȯ11050Ԫļ۸ۣͶʡԲʱֵ
Ͷ
ƱͶʾ

һƱͶʵĿ
ҵƱͶʵĿҪһǻȡ뼰ƱۡǿعɣͨijһҵĹƱﵽƸҵĿġ

Ʊ
1.ƱԴӰ
ݣʱ
Ӱأȡڹɷݹ˾ľӪҵ͹Ʊгļ۸仯Ͷߵľ뼼Ҳһϵ
2.Ʊʵļ

	㹫ʽ
	1ڹƱͶʵij 2ڹƱͶʵij ʵḶ́𲽲Խڲ巨󣬿ɰ¹ʽ ʽУVΪƱĹ۸FΪƱijۼ۸DtΪƱͶʱ(õĹ)nΪͶޣiΪƱͶʡ

̲P2817-2P2947-9
Ʊ
1.Ʊֵĺ壺ƱļֵָԤڵδֳֵֽΪ"Ʊڼֵ"
2.Ʊֵļ
1ڳйƱ
2ڳйƱ ȶĹƱֵļ㣺V DK
̶ɳĹƱֵļ㣺V=D0(1+g)/K-g=D1/(K-g)
[7-10]˾׼Ͷʹ򶫷Ͷʹɷ޹˾ĹƱùƱÿɹΪ2ԪԤԺÿ4%˾Ϊõ10%ıʣܹ򶫷Ͷʹɷ޹˾ĹƱֹƱڼֵӦΪ

й˾йƱ۸34.67Ԫʱ˾IJܹ
3.ԭ򣺵ծȯֵڹ۸񣬿Թ
3ݼҵƻһʳʽͶʹƱ M˾Ʊ N˾Ʊɹѡ񣬼ҵֻ׼Ͷһҹ˾Ʊ֪M˾ƱмΪÿ9ԪÿɹΪ0.15ԪԤԺÿ6 N˾ƱмΪÿ7ԪÿɹΪ0.60Ԫ߽һ̶ֹߡҵҪͶʱҪΪ8
Ҫ󣺣1ùƱģֱͣ M N˾Ʊֵ
2㳤ڳM N˾ƱͶʡ
3ҵƱͶʾߡ
1 MN˾Ʊֵ
N˾Ʊֵ(VN)0.60/8%7.5(Ԫ)
(2)㳤ڳM N˾ƱͶʡ
9= 0.15×(1+6%)/(KM-6%) KM=7.77%
7=0.60/ KN KN=8.57%
(3)ߣM˾ƱмΪ9ԪͶʼֵ795ԪM˾ƱĿǰͶʹ
N˾ƱмΪ7ԪͶʼֵ750Ԫ N˾ƱֵͶʣҵӦ N˾Ʊ
[4]ǰ׹˾У£ֹƱƱɵ֤ȯͶУƱռıطֱΪ503020ϵֱΪ2.01.00.5гΪ15޷Ϊ10
ƱǰÿмΪԪյһɷÿɣ.ԪֽԤƹԺÿ꽫
Ҫ󣺣ָ꣺
׹˾֤ȯϵĦϵ
׹˾֤ȯϵķʣңУ
׹˾֤ȯϵıҪͶʣˣ
ͶʣƱıҪͶʣ
2ùƱģͷǰۣƱǷԼ׹˾2002꣩
𰸣

ָ꣺
ټ׹˾֤ȯϵĦϵ=50%×2+30%×1+20%×0.5=1.4
ڼ׹˾֤ȯϵķʣRP=1.4×15%-10%=7%
ۼ׹˾֤ȯϵıҪͶʣK=10%+7%=17%
ͶAƱıҪͶ=10%+2×15%-10%=20%
2ùƱģͷǰAƱǷԼ׹˾
AƱڼֵ Ԫ
Լ׹˾ǰAƱȽ
ġƱͶʵصP297
ŵ㣺ƱͶߣյͣͶӵоӪȨ
ȱ㣺ȨӺ󣬹Ʊ۸ȶ벻ȶ