NO.PZ2017092702000014
问题如下:
Grandparents are funding a newborn’s future university tuition costs, estimated at $50,000/year for four years, with the first payment due as a lump sum in 18 years. Assuming a 6% effective annual rate, the required deposit today is closest to:
选项:
A.$60,699.
B.$64,341.
C.$68,201.
解释:
B is correct.
First, find the present value (PV) of an ordinary annuity in Year 17 that represents the tuition costs: = $50,000 × 3.4651 = $173,255.28. Then, find the PV of the annuity in today’s dollars (where FV is future value):
PV0 = $64,340.85 ≈ $64,341.
I/Y里的利率都是EAR是吗?如果什么都没描述,就给了个6%,按半年复利,一共18年,是不是要先算EAR=(1+6%/2)^18*2-1得出EAR,再代入公式?算出来利率很大,如果不是,那题目中给的EAR为什么可以直接代入?如果是半年的话,是不是要EAR/2?