NO.PZ2017092702000028
问题如下:
An investor performs the following transactions on the shares of a firm.
• At t = 0, she purchases a share for $1,000.
• At t = 1, she receives a dividend of $25 and then purchases three additional shares for $1,055 each.
• At t = 2, she receives a total dividend of $100 and then sells the four shares for $1,100 each.
The money-weighted rate of return is closest to:
选项:
A.4.5%.
B.6.9%.
C.7.3%.
解释:
B is correct.
Computation of the money-weighted return, r, requires finding the discount rate that sets the present value (outflows) equal to the present value (inflows).
Solving for r, results in a value of r = 6.91%
请问第一年25块钱收益没有取出来,为什么也要加在现金流里,为什么CF1不是直接用-1055*3?