问一道题：NO.PZ2018091705000022

问题如下：

Allen is an investment manager, who recently recruited a new customer, Polly. Polly invested $100,000 in an asset for 20 years that promises to offer an annual interest of 8% before tax without any capital gain. But the investment account is expected to be taxed 15% annually. Calculate the accrual equivalent return on this investment.

选项：

6.8%

7.5%

解释：

A is correct.

考点：Effective annual return

解析：先计算FV：

$FV_{}=PV{\lbrack1+R(1-T)\rbrack}^N=100,000\times{(1+8\%{(1-15\%)})}^{20}=372,756.35$

依据Effective annual return公式可得

$100,000{(1+R_{AE})}^{20}=372,756.35$ ，反解这个方程得： $R_{AE}=6.8\%$

你这题应该是wealth based吧，原文是investment account is expected to be taxed 15% annually，所以应该是指这个投资账户每年征收15% ，而不是只对interest 征收

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carolllll · 2020年02月27日

嗨，爱思考的PZer你好：

同学你好，

这题应该是accrual based。因为题干有提到“an annual interest of 8% before tax without any capital gain.”，证明这个interest是征收capital gain tax的，那么既然是tax on investment return的话，就不是wealth based了。

一般wealth based多用于real estate。像这种interest，investment income的话，都是accrual based。

希望对你有帮助～

-------------------------------
努力的时光都是限量版，加油！

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Allen is investment manager, who recently recruitea new customer, Polly. Polly investe$100,000 in asset for 20 years thpromises to offer annuinterest of 8% before twithout any capitgain. But the investment account is expecteto taxe15% annually. Calculate the accruequivalent return on this investment. 6.8% 7.5% 8% A is correct. 考点Effective annureturn 解析先计算FV FV=PV[1+R(1−T)]N=100,000×(1+8%(1−15%))20=372,756.35FV_{}=PV{\lbrack1+R(1-T)\rbrack}^N=100,000\times{(1+8\%{(1-15\%)})}^{20}=372,756.35FV=PV[1+R(1−T)]N=100,000×(1+8%(1−15%))20=372,756.35 依据Effective annureturn公式可得 100,000(1+RAE)20=372,756.35100,000{(1+R_{AE})}^{20}=372,756.35100,000(1+RAE)20=372,756.35，反解这个方程得 RAE=6.8%R_{AE}=6.8\%RAE=6.8% 怎么辨别是accurtax、ferretax和wealth-base

2020-03-18 23:18 2 · 回答

Allen is investment manager, who recently recruitea new customer, Polly. Polly investe$100,000 in asset for 20 years thpromises to offer annuinterest of 8% before twithout any capitgain. But the investment account is expecteto taxe15% annually. Calculate the accruequivalent return on this investment. 6.8% 7.5% 8% A is correct. 考点Effective annureturn 解析根据Accrutaxes的公式，可得 FVAT=PV[1+R(1−T)]N=100,000×(1+8%(1−15%))20=372,756.35FV_{AT}=PV{\lbrack1+R(1-T)\rbrack}^N=100,000\times{(1+8\%{(1-15\%)})}^{20}=372,756.35FVAT=PV[1+R(1−T)]N=100,000×(1+8%(1−15%))20=372,756.35 依据Effective annureturn公式可得 100,000(1+RAE)20=372,756.35100,000{(1+R_{AE})}^{20}=372,756.35100,000(1+RAE)20=372,756.35，反解这个方程得 RAE=6.8%R_{AE}=6.8\%RAE=6.8% 这道题怎么看出是用accrutax呢

2019-12-18 23:36 1 · 回答

是不是也可以直接用R*（1-T）即8%*（1-15%）

2019-10-14 12:30 1 · 回答

问一道题：NO.PZ2018091705000022

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