问一道题：NO.PZ2018062001000010 [ CFA I ]

NO.PZ2018062001000010问题如下Tim hinvestment portfolio of $500,000 the beginning of 2016. the enof thyear, Tim wants to with$15,000 for ily expenses but maintain the originvalue of the portfolio. Assume threturn of the portfolio is 5% annormally stribute risk-free rate is 2% anstanrviation of the return is 16%. The Sharpe ratio anSafety-first ratio are:A.Sharpe ratio: 12.5%, Safety-first ratio:18.75%B.Sharpe ratio: 18.75%, Safety-first ratio: 31.25%C.Sharpe ratio: 18.75%, Safety-first ratio: 12.5%C is correct.Sharpe ratio =(Rp-Rf)/ σ=(5%-2%)/16%=18.75%.15,000/500,000=3%. For any return lower th3%, Tim hto withfrom the orginivalue of the portfolio. Therefore, Safety-first ratio= (Rp-RL)/ σ=(5%-3%)/16%=12.5%为什么是RL呢？。。。。。

每天収益1500应该用复利算么？