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Maggiesmile · 2023年10月21日

profitable变亏损

  1. CFA I
  2. Corporate Issuers

NO.PZ2022090804000010

问题如下：

Erin Chou is reviewing a profitable investment that has a conventional cash flow pattern. If the cash flows for the initial outlay and future after-tax cash flows all double, Chou would predict that the IRR would:

选项：

A.increase and the NPV would increase. B.stay the same and the NPV would increase. C.stay the same and the NPV would stay the same.

解释：

Solution

B is correct. The IRR would stay the same because both the initial outlay and the after-tax cash flows double, so the return on each dollar invested would remain the same. All the cash flows and their present values double. The difference between the total present value of the future cash flows and the initial outlay (the NPV) also doubles.

您好，如果本题是亏损得投资，那IRR还是不变，NPV是变小吗？

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1 个答案

王琛_品职助教 · 2023年10月23日

嗨，努力学习的PZer你好：


是的

根据题意，可以得到：现金流变化后的 NPV，是现金流变化前的 2 倍

如果变化前的 NPV 是 -100，那么变化后的 NPV 是 -200，相当于更小了

公式推导分析，也请参考：https://class.pzacademy.com/qa/18056

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！

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2023-10-22 17:57 1 · 回答

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