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yehan99 · 2018年03月28日

问一道题：NO.PZ2015120604000013 [ CFA I ]

  1. CFA I
  2. Quantitative

问题如下图：

    

选项：

A.

B.

C.

解释：


第一步折现到21188我理解了是求t0的pv,怎么会理解为year 12年末的pv?

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2 个答案

源_品职助教 · 2018年03月28日

不客气的

源_品职助教 · 2018年03月28日

学费要付20年，每年2000，这些钱的第一笔支付发生在13年年末，第二笔发生在14年年末，以此类推。所以先求这20笔2000的现值PV。在计算器后付年金模式下算得现值就是发生在12年的年末

所以我们还要把这个发生在T=12的现值折现到T=0时刻，才是当前时刻的现值。

yehan99 · 2018年03月28日

这个解释我理解了，谢谢

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