NO.PZ2015120604000008
问题如下:
An investment will provide cash flows to investors as folloing pattern
$20 in Year 1, -$10 in Year 2, $10 in Year 3, and then send back $100 principal at the end of Year 4.
Assume the discount rate is 8%. Calculate the present value of the investment:
选项:
A.$91.39.
B.$108.29.
C.$135.58.
解释:
A is correct.
CF0 = 0; CF1 = 20; CF2 = -10; CF3 =10; CF4 = 100; I/Y = 8;
NPV= $91.39.
20/(1+8%)+ -10/(1+8%)^2 +10/(1+8%)^3+100/(1+8%)^4
因为每期的现金流不相等 所以不能这样计算是吗?