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.
第一步, PMT=50000,N=4,I/Y=6,FV=0,算出PV,用算出的PV值再乘以(1+I/Y),这个就是后面要求的值的FV
第二步,用上面最终求得的值作为FV,PMT=0,N=18,I/Y=6,求PV
这里第二步的N是不是就应该用18来算?