问题如下图：
选项：
A. 
B. 
C. 
解释：
请问老师，问题问的是current value，题目当中说分析师是在2009年才进行的上述分析，那么进行折现计算的时候，不是应该折回到2009年才对么？为什么答案是折现到2007年？
NO.PZ201512300100000904 问题如下 4. Whis the current value of the stobaseon the seconapproach? A.C$16.24. B.C$17.65. C.C$28.29. A is correct.computeearlier, V8= 17(1.6640) = C$28.2880.PV of V8= 28.2880/1.08728 = 14.4919From the table with the calculation tails for the solution to Problem 22,Sum of PV of through = 1.7433So, the value of stoV0= 14.4919 + 1.7433 = C$16.2352. 这道题和上一小问，一个是问terminvalue ，一个是问current value，是否意味着terminvalue 是计算8时刻的价值，而current value是计算0时刻的价值？如果这样，那么为什么第一小问也是求terminvalue，却计算0时刻的价值？
NO.PZ201512300100000904 问题如下 4. Whis the current value of the stobaseon the seconapproach? A.C$16.24. B.C$17.65. C.C$28.29. A is correct.computeearlier, V8= 17(1.6640) = C$28.2880.PV of V8= 28.2880/1.08728 = 14.4919From the table with the calculation tails for the solution to Problem 22,Sum of PV of through = 1.7433So, the value of stoV0= 14.4919 + 1.7433 = C$16.2352. 为什么要用8.72而不是4.1？
NO.PZ201512300100000904 老师好 1）为什么这题还是只算到2008年年底，而不是折现到2006年的年初的价值？虽然这里没问value of the first stage. 2) GGM or multistage 模型里是不是 都是 从后往前，数是 第一个stage， 第二个stage etc., 谢谢
NO.PZ201512300100000904 老师 这道题没有明确说用乘数法啊
C$17.65. C$28.29. A is correct. computeearlier, V8= 17(1.6640) = C$28.2880. PV of V8= 28.2880/1.08728 = 14.4919 From the table with the calculation tails for the solution to Problem 22, Sum of PV of through = 1.7433 So, the value of stoV0= 14.4919 + 1.7433 = C$16.2352.1.7433怎么按计算器，就是加总利息那个怎么按
