第一个inflation 调整的公式看不懂，麻烦帮分解解释一下

NO.PZ202206210100000206 问题如下 Using Exhibit 2, whiof the sub-portfolio allocations is most likely to meet both of Sebastian’s goals? A.The current sub-portfolio allocation B.A 43% allocation to sub-portfolio ana 57% allocation to sub-portfolio C.A 37% allocation to sub-portfolio ana 63% allocation to sub-portfolio SolutionC is correct. Sebastinee to aust the sub-portfolio allocation to achieve her goals. austing the allocations to 37% × $2,900,000 = $1,073,000 in an63% × $2,900,000 = $1,827,000 in CZ, she will able to achieve both of her goals baseon the confinintervals.Go1: Sebastinee to maintain her current living expenture of $120,000 per yeover 20 years with a 90% probability of success. Inflation is expecteto average 2.5% annually over the time horizon.Sub-portfolio shoulselectebecause it ha higher expectereturn (5.70%) the 90% probability for the 20-yehorizon. Although sub-portfolio hexpecteannureturn of 7.10%, baseon the 90% probability of success requirement, the scount factor is 5.70%. Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,827,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$120,432.04 $120,000 Go2: Sebastiwants to contribute $1,500,000 to a charitable fountion in 10 years with 85% probability of success. Sub-portfolio shoulselectebecause it ha higher expectereturn (3.60%) the 85% probability for the 10-yehorizon. Although sub-portfolio hexpecteannureturn of 5.70%, baseon the 85% probability of success requirement, the scount factor is 3.60%.Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,073,000 A is incorrect: 40% × $2,900,000 = $1,160,000 in BY, an60% × $2,900,000 = $1,740,000 in CZ.Go1: k= 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,740,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$114,697.18 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,160,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realizeB is incorrect: 43% × $2,900,000 = $1,247,000 in BY, an57% × $2,900,000 = $1,653,000 in CZ.Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,653,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$108,962.32 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,247,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realize 1.为什么默认go1 是CZ，go2 是另外一个组合？题干中并没有显示这种对应。2.go1 这个包含inflation2.5%的公式的知识点出处是在哪里，没看明白这个计算现值的公式

NO.PZ202206210100000206问题如下 Using Exhibit 2, whiof the sub-portfolio allocations is most likely to meet both of Sebastian’s goals?A.The current sub-portfolio allocationB.A 43% allocation to sub-portfolio ana 57% allocation to sub-portfolio CZC.A 37% allocation to sub-portfolio ana 63% allocation to sub-portfolio CZSolutionC is correct. Sebastinee to aust the sub-portfolio allocation to achieve her goals. austing the allocations to 37% × $2,900,000 = $1,073,000 in an63% × $2,900,000 = $1,827,000 in CZ, she will able to achieve both of her goals baseon the confinintervals.Go1: Sebastinee to maintain her current living expenture of $120,000 per yeover 20 years with a 90% probability of success. Inflation is expecteto average 2.5% annually over the time horizon.Sub-portfolio shoulselectebecause it ha higher expectereturn (5.70%) the 90% probability for the 20-yehorizon. Although sub-portfolio hexpecteannureturn of 7.10%, baseon the 90% probability of success requirement, the scount factor is 5.70%. Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,827,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$120,432.04 $120,000 Go2: Sebastiwants to contribute $1,500,000 to a charitable fountion in 10 years with 85% probability of success. Sub-portfolio shoulselectebecause it ha higher expectereturn (3.60%) the 85% probability for the 10-yehorizon. Although sub-portfolio hexpecteannureturn of 5.70%, baseon the 85% probability of success requirement, the scount factor is 3.60%.Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,073,000 A is incorrect: 40% × $2,900,000 = $1,160,000 in BY, an60% × $2,900,000 = $1,740,000 in CZ.Go1: k= 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,740,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$114,697.18 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,160,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realizeB is incorrect: 43% × $2,900,000 = $1,247,000 in BY, an57% × $2,900,000 = $1,653,000 in CZ.Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,653,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$108,962.32 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,247,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realize 为什么折现率选择用minimum expectereturn计算，而不是用expectereturn去计算？

NO.PZ202206210100000206 问题如下 Using Exhibit 2, whiof the sub-portfolio allocations is most likely to meet both of Sebastian’s goals? A.The current sub-portfolio allocation B.A 43% allocation to sub-portfolio ana 57% allocation to sub-portfolio C.A 37% allocation to sub-portfolio ana 63% allocation to sub-portfolio SolutionC is correct. Sebastinee to aust the sub-portfolio allocation to achieve her goals. austing the allocations to 37% × $2,900,000 = $1,073,000 in an63% × $2,900,000 = $1,827,000 in CZ, she will able to achieve both of her goals baseon the confinintervals.Go1: Sebastinee to maintain her current living expenture of $120,000 per yeover 20 years with a 90% probability of success. Inflation is expecteto average 2.5% annually over the time horizon.Sub-portfolio shoulselectebecause it ha higher expectereturn (5.70%) the 90% probability for the 20-yehorizon. Although sub-portfolio hexpecteannureturn of 7.10%, baseon the 90% probability of success requirement, the scount factor is 5.70%. Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,827,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$120,432.04 $120,000 Go2: Sebastiwants to contribute $1,500,000 to a charitable fountion in 10 years with 85% probability of success. Sub-portfolio shoulselectebecause it ha higher expectereturn (3.60%) the 85% probability for the 10-yehorizon. Although sub-portfolio hexpecteannureturn of 5.70%, baseon the 85% probability of success requirement, the scount factor is 3.60%.Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,073,000 A is incorrect: 40% × $2,900,000 = $1,160,000 in BY, an60% × $2,900,000 = $1,740,000 in CZ.Go1: k= 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,740,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$114,697.18 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,160,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realizeB is incorrect: 43% × $2,900,000 = $1,247,000 in BY, an57% × $2,900,000 = $1,653,000 in CZ.Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,653,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$108,962.32 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,247,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realize 老师能否帮忙厘清一下整体的解题思路，看了步骤大概能明白，但是整体思路有点浆糊

NO.PZ202206210100000206 问题如下 Using Exhibit 2, whiof the sub-portfolio allocations is most likely to meet both of Sebastian’s goals? A.The current sub-portfolio allocation B.A 43% allocation to sub-portfolio ana 57% allocation to sub-portfolio C.A 37% allocation to sub-portfolio ana 63% allocation to sub-portfolio SolutionC is correct. Sebastinee to aust the sub-portfolio allocation to achieve her goals. austing the allocations to 37% × $2,900,000 = $1,073,000 in an63% × $2,900,000 = $1,827,000 in CZ, she will able to achieve both of her goals baseon the confinintervals.Go1: Sebastinee to maintain her current living expenture of $120,000 per yeover 20 years with a 90% probability of success. Inflation is expecteto average 2.5% annually over the time horizon.Sub-portfolio shoulselectebecause it ha higher expectereturn (5.70%) the 90% probability for the 20-yehorizon. Although sub-portfolio hexpecteannureturn of 7.10%, baseon the 90% probability of success requirement, the scount factor is 5.70%. Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,827,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$120,432.04 $120,000 Go2: Sebastiwants to contribute $1,500,000 to a charitable fountion in 10 years with 85% probability of success. Sub-portfolio shoulselectebecause it ha higher expectereturn (3.60%) the 85% probability for the 10-yehorizon. Although sub-portfolio hexpecteannureturn of 5.70%, baseon the 85% probability of success requirement, the scount factor is 3.60%.Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,073,000 A is incorrect: 40% × $2,900,000 = $1,160,000 in BY, an60% × $2,900,000 = $1,740,000 in CZ.Go1: k= 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,740,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$114,697.18 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,160,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realizeB is incorrect: 43% × $2,900,000 = $1,247,000 in BY, an57% × $2,900,000 = $1,653,000 in CZ.Go1: k = 5.70%; g = 2.50%.termine the inflation-austeannucash flow generatesub-portfolio CZ: $1,653,000× 0.057−0.025 1− 1+0.025 1+0.057 20 1.057 =$108,962.32 $120,000 Go2: k = 3.60%.termine the amount neetoy in sub-portfolio BY: $1,500,000 1+0.036 10 =$1,053,158.42 $1,247,000 Go1 is not realizebecause the inflation-austeannupayment is below $120,000.Go2 is realize 老师可以一下37%和63%是如何计算的吗？我只知道20 year投资CZ，10 year投资BY