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唯一 · 2020年02月09日

问一道题：NO.PZ2015120604000013

  1. CFA I
  2. Quantitative

问题如下：

An annuity of $2,000 per year will be received for twenty years. The first payment is to be received at the end of thirteenth years. Assume the  discount rate is 7% over next years, calculate the today's present value of the annuity

选项：

A.

$8,792.

B.

$9,408.

C.

$10,066.

解释：

B is correct.

  1. Calculate the  PV of annuity at the end of the twelfth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT  PV = 21,188.03. ;
  2. Calculate the  PV today: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT  PV = 9,407.74.

13-32年的PV，为什么不能用先付模式算出第十三年的PV，然后再用后付模式算出现在的PMT,最终结果和你们提供的答案一样

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1 个答案

星星_品职助教 · 2020年02月10日

同学你好，

两种算法是一样的。但这么算一般来说比较麻烦，类似的题目基本上都是用后付算的。

考试的时候选一种自己最熟练的，能解出来就行。

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