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kate · 2018年06月13日

问一道题:NO.PZ2017092702000009 [ CFA I ]

问题如下图:

选项:

A.

B.

  • C.

这个N为什么不是5⃣️ 而是4⃣️呢 解释:

1 个答案

源_品职助教 · 2018年06月13日

为第一现金流发生的时间是在T=5时刻,那么公式求得现值应该是第一笔现金流发生的前一期,即T=4时刻。因为我们是用计算器的后付年金模式下计算。如果当做T=5时刻,那么应该用计算器的先付年金模式计算。

所以之后我们需要对这个现值在往前折现4年到T=0时刻。

 

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