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AgnesWu · 2023年05月24日

关于时点金额的计算问题

  1. CFA I
  2. Portfolio

NO.PZ2015120604000033

问题如下：

Tom buys one share of stock at $30 now, and one more shares at $35 after one year. At the end of year 1, the stock paid $5 dividend per share. At the end of t2, Tom sold 2 shares for $40 each. Calculate the time-weighted rate of return on this investment.

选项：

A.

9.88%.

B.

15.00%.

C.

23.13%.

解释：

C is correct.

During the year1, the hoding return is (35 + 5) / 30 - 1= 33.33%,

During the year2, the hoding return is 80 / 70 - 1 = 14.29%

Time-weighted return = [(1.33)(1.14)]0.5 - 1 = 23.13%

我理解的是，after one year 变成35，是at the end of one year的概念，加上end of one year的div，故用了（35*2+5）/30=2.5 ，求解惑

 


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Kiko_品职助教 · 2023年05月24日

嗨，从没放弃的小努力你好：


after one year 变成35，是at the end of one year的概念，

你理解的没错。就是t=1时刻，也就是第一年年末，第二年年初。这时候需要算的是第一年的期间收益。第一年期间只有第一只股票产生收益了。第二只股票是在t=1时刻也就是第一年末刚买的，应该算在第二年的期间收益里面。所以你的式子里35为什么要乘以2呢。

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NO.PZ2015120604000033问题如下 Tom bought one share of sto$30 time 0. the enof ye1, the stopai$5 vinper share anthen Tom bought one more share $35.the enof ye2, Tom sol2 shares for $40 each.Calculate the time-weighterate of return on this investment. A.9.88%.B.15.00%.C.23.13%.is correct.ring the year1, the hong return is (35 + 5) / 30 - 1= 33.33%,ring the year2, the hong return is 80 / 70 - 1 = 14.29%Time-weightereturn = [(1.33)(1.14)]0.5 - 1 = 23.13%​你好，问一下。 这个题是用在课程中学过的公式是〈（P1—P0）+I 〉/ P0 算对吧 ？ 〈 35—30+5〉/ 30 = 0.333333

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