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OCTOPUS · 2018年06月11日

问一道题：NO.PZ2017092702000009 [ CFA I ]

  1. CFA I
  2. Quantitative

问题如下图：

选项：

A.

B.

C.

解释：答案写错了吧，FV才是133

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1 个答案

源_品职助教 · 2018年06月11日

答案没有写错。因为第一步所算得的PV是针对从所有从第五年开始的PMT而言的。这个PV发生在T=4时刻 （因为第一笔现金流发生在T=5时刻），之后，我们再将这个现值往前折现4年就得到了该年金当前时刻的现值PV 。

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