开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

Olivia.W🌸 · 2024年02月21日

求IRR

  1. CFA I
  2. Quantitative

NO.PZ2022123001000150

问题如下：

A fund receives investments at the beginning of each year and generates returns for three years as follows:

Exhibit 1: Investments and Returns for Three Years

Which return measure over the three-year period is negative?

选项：

A.

Geometric mean return

B.

Time-weighted rate of return

C.

Money-weighted rate of return

解释：

C is correct. The money-weighted rate of return considers both the timing and amounts of investments into the fund. To calculate the money-weighted rate of return, tabulate the annual returns and investment amounts to determine the cash flows.

CF0 = –USD1,000, CF1 = –USD2,850, CF2 = –USD40,440, CF3 = +USD43,200.

CF0 = − 1, 000 CF1 = − 2, 850 CF2 = − 40, 440 CF3 = + 43, 200

Solving for IRR results in a value of IRR = −2.22 percent.

Note that A and B are incorrect because the time-weighted rate of return (TWR) of the fund is the same as the geometric mean return of the fund and is positive:

RT W = [(1.15) (1.14) (0.96)]1/3 − 1 = 7.97% .


这个用计算器算IRR怎么点？

为什么我想输入-1000，输入1000，再输入-号，怎么不得-1000？

添加评论
1 个答案

品职助教_七七 · 2024年02月22日

嗨，努力学习的PZer你好：


输入1000后，要点击最下一行的 +|-键，不要点击减号。

----------------------------------------------
加油吧，让我们一起遇见更好的自己！

  • 1

    回答

  • 0

    关注

  • 174

    浏览
相关问题

NO.PZ2022123001000150问题如下 A funreceives investments thebeginning of eayeangenerates returns for three years follows:Exhibit 1: Investments anReturns forThree YearsWhireturn measure over thethree-yeperiois negative? A.Geometric mereturnB.Time-weighterate of returnC.Money-weighterate of return C is correct. The money-weighterateof return consirs both the timing anamounts of investments into the funTo calculate the money-weighterate of return, tabulate the annureturns annvestment amounts to termine the cash flows.CF0 = –US,000, CF1= –US,850, CF2 = –US0,440, CF3 = +US3,200.CF0 = − 1, 000 CF1 =− 2, 850 CF2 = − 40, 440 CF3 = + 43, 200Solving for IRR results in a value ofIRR = −2.22 percent.Note thA anB are incorrectbecause the time-weighterate of return (TWR) of the funis the same thegeometric mereturn of the funanis positive:RT W = [(1.15) (1.14)(0.96)]1/3 − 1 = 7.97% . 第二行new investment 怎么算出来？

2024-05-28 07:31 1 · 回答

NO.PZ2022123001000150 问题如下 A funreceives investments thebeginning of eayeangenerates returns for three years follows:Exhibit 1: Investments anReturns forThree YearsWhireturn measure over thethree-yeperiois negative? A.Geometric mereturn B.Time-weighterate of return C.Money-weighterate of return C is correct. The money-weighterateof return consirs both the timing anamounts of investments into the funTo calculate the money-weighterate of return, tabulate the annureturns annvestment amounts to termine the cash flows.CF0 = –US,000, CF1= –US,850, CF2 = –US0,440, CF3 = +US3,200.CF0 = − 1, 000 CF1 =− 2, 850 CF2 = − 40, 440 CF3 = + 43, 200Solving for IRR results in a value ofIRR = −2.22 percent.Note thA anB are incorrectbecause the time-weighterate of return (TWR) of the funis the same thegeometric mereturn of the funanis positive:RT W = [(1.15) (1.14)(0.96)]1/3 − 1 = 7.97% . the beginning of 1 ye有1000，那不是0时刻就应该1000了吗？怎么是0

2024-02-21 16:41 1 · 回答

NO.PZ2022123001000150 问题如下 A funreceives investments thebeginning of eayeangenerates returns for three years follows:Exhibit 1: Investments anReturns forThree YearsWhireturn measure over thethree-yeperiois negative? A.Geometric mereturn B.Time-weighterate of return C.Money-weighterate of return C is correct. The money-weighterateof return consirs both the timing anamounts of investments into the funTo calculate the money-weighterate of return, tabulate the annureturns annvestment amounts to termine the cash flows.CF0 = –US,000, CF1= –US,850, CF2 = –US0,440, CF3 = +US3,200.CF0 = − 1, 000 CF1 =− 2, 850 CF2 = − 40, 440 CF3 = + 43, 200Solving for IRR results in a value ofIRR = −2.22 percent.Note thA anB are incorrectbecause the time-weighterate of return (TWR) of the funis the same thegeometric mereturn of the funanis positive:RT W = [(1.15) (1.14)(0.96)]1/3 − 1 = 7.97% . TWR等于几何平均？但是我看讲义的公式TWR不用开方，几何平均要开方呀

2024-01-28 23:02 1 · 回答

NO.PZ2022123001000150 问题如下 A funreceives investments thebeginning of eayeangenerates returns for three years follows:Exhibit 1: Investments anReturns forThree YearsWhireturn measure over thethree-yeperiois negative? A.Geometric mereturn B.Time-weighterate of return C.Money-weighterate of return C is correct. The money-weighterateof return consirs both the timing anamounts of investments into the funTo calculate the money-weighterate of return, tabulate the annureturns annvestment amounts to termine the cash flows.CF0 = –US,000, CF1= –US,850, CF2 = –US0,440, CF3 = +US3,200.CF0 = − 1, 000 CF1 =− 2, 850 CF2 = − 40, 440 CF3 = + 43, 200Solving for IRR results in a value ofIRR = −2.22 percent.Note thA anB are incorrectbecause the time-weighterate of return (TWR) of the funis the same thegeometric mereturn of the funanis positive:RT W = [(1.15) (1.14)(0.96)]1/3 − 1 = 7.97% . A funreceives investments the beginning of eayeangenerates returns for three years follows:Exhibit 1: Investments anReturns for Three YearsWhireturn measure over the three-yeperiois negative?您的回答正确答案是: CA不正确Geometric mereturnBTime-weighterate of returnCMoney-weighterate of return

2024-01-23 19:14 1 · 回答