货币的时间价值.ppt

《货币的时间价值.ppt》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、货币的时间价值未来的1元≠现在的1元1本教材中的应用基本概念p192第七章分期购买固定资产成本的计算，例7-4p139第九章公司债券价格的计算，例9-1p194长期借款等额还款数额的计算，例9-15p2082单利与复利单利每期利息额以最初本金额为基础计算。I=P*i*n复利（利生利）每期利息额以最初本金额加上以前各期利息为基础计算。I=P*(1+i)n-PI-n期利息总额P-本金i-每期利率n–期数3续你现在向银行存入$1000，准备存5年，年利率10%。5年的利息总额是多少？单利利息总额=1000*10%*5=500复利利息总额=1000*(1+10%)5–1000=1000*1.61

2、051–1000=610.514单笔款项分别在现在时点和未来时点上的价值，被称为单笔款项的现值和终值。你现在向银行存入$1000，准备存5年，年利率10%。5年后可以取出$1610.51。=1000*(1+10%)5=1000*1.61051=1610.51你打算5年后从银行可以取出$1610.51，年利率10%，现在应向银行存入$1000。=1000*(1+10%)–5=1000*0.62092=1000单笔款项的现值与终值5在n=5，i=10%的条件下，现值$1000和终值$1610.51是等价的。现值(PV)与终值(FV)的关系FV=PV*(1+i)nPV=FV*(1+i)–n续1

3、元终值系数当n=5，i=10%时,是1.61051=(1+10%)5。1元现值系数当n=5，i=10%时,是0.62092=(1+10%)-5。61元终值系数表1%2%3%4%5%6%7%8%9%10%11%12%13%14%15%16%11.01001.02001.03001.04001.05001.06001.07001.08001.09001.10001.11001.12001.13001.14001.15001.160021.02011.04041.06091.08161.10251.12361.14491.16641.18811.21001.23211.25441.27691.

4、29961.32251.345631.03031.06121.09271.12491.15761.19101.22501.25971.29501.33101.36761.40491.44291.48151.52091.560941.04061.08241.12551.16991.21551.26251.31081.36051.41161.46411.51811.57351.63051.68901.74901.810651.05101.10411.15931.21671.27631.33821.40261.46931.53861.61051.68511.76231.84241.92542.

5、01142.100361.06151.12621.19411.26531.34011.41851.50071.58691.67711.77161.87041.97382.08202.19502.31312.436471.07211.14871.22991.31591.40711.50361.60581.71381.82801.94872.07622.21072.35262.50232.66002.826281.08291.17171.26681.36861.47751.59381.71821.85091.99262.14362.30452.47602.65842.85263.05903.

6、278491.09371.19511.30481.42331.55131.68951.83851.99902.17192.35792.55802.77313.00403.25193.51793.8030101.10461.21901.34391.48021.62891.79081.96722.15892.36742.59372.83943.10583.39463.70724.04564.411471元现值系数表1%2%3%4%5%6%7%8%9%10%11%12%13%14%15%16%10.99010.98040.97090.96150.95240.94340.93460.92590.

7、91740.90910.90090.89290.88500.87720.86960.862120.98030.96120.94260.92460.90700.89000.87340.85730.84170.82640.81160.79720.78310.76950.75610.743230.97060.94230.91510.88900.86380.83960.81630.79380.77220.75130.73120.71180.