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Yuyu · 2021年05月11日

区分accrual和wealth tax

  1. CFA III
  2. 个人IPS

NO.PZ2018091705000031

问题如下：

Allen is an investment manager, who recently recruited a new customer, Jack. Jack invested $200,000 in a wealth asset for 15 years that promises to offer an annual return of 12% before tax. The investment should be imposed a wealth tax of 5% each year. Calculate the post-tax value of the investment after 15 years later.

选项：

A.

$569,023

B.

$507,171

C.

$289,034

解释：

B is correct.

考点：Wealth-based Taxes

解析：这道题考法非常常规。我们直接套用Wealth-based Taxes计算公式即可。

FVIFWT=[(1+R)×(1−TW)]NFVIF_{WT}={\lbrack(1+R)\times(1-T_W)\rbrack}^N

FV=200,000×[(1+0.12)×(1−0.05)]15=507,171FV=200,000\times{\lbrack(1+0.12)\times(1-0.05)\rbrack}^{15}=507,171

确认一个细节：

Accrual由于是针对增加的部分征税，所以是1+r*(1-t),而wealth tax是针对整体征税，所以是（1+r）*(1-t)。

这样区分应该是没问题的？

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1 个答案

伯恩_品职助教 · 2021年05月11日

嗨，努力学习的PZer你好：


同学你说的很正确

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加油吧，让我们一起遇见更好的自己！

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NO.PZ2018091705000031 Allen is investment manager, who recently recruitea new customer, Jack. Jainveste$200,000 in a wealth asset for 15 years thpromises to offer annureturn of 12% before tax. The investment shoulimposea wealth tof 5% eayear. Calculate the post-tvalue of the investment after 15 years later. $569,023 $507,171 $289,034 B is correct. 考点Wealth-baseTaxes 解析这道题考法非常常规。我们直接套用Wealth-baseTaxes计算公式即可。 FVIFWT=[(1+R)×(1−TW)]NFVIF_{WT}={\lbrack(1+R)\times(1-T_W)\rbrack}^NFVIFWT​=[(1+R)×(1−TW​)]N FV=200,000×[(1+0.12)×(1−0.05)]15=507,171FV=200,000\times{\lbrack(1+0.12)\times(1-0.05)\rbrack}^{15}=507,171FV=200,000×[(1+0.12)×(1−0.05)]15=507,171 老师，如果realize了40%的话， 那投资了￥100， 每年赚￥8. 实现了40%，也就是卖了￥40，只有剩下的￥60继续投资么？

2021-08-15 12:34 1 · 回答

Allen is investment manager, who recently recruitea new customer, Jack. Jainveste$200,000 in a wealth asset for 15 years thpromises to offer annureturn of 12% before tax. The investment shoulimposea wealth tof 5% eayear. Calculate the post-tvalue of the investment after 15 years later. $569,023 $507,171 $289,034 B is correct. 考点Wealth-baseTaxes 解析这道题考法非常常规。我们直接套用Wealth-baseTaxes计算公式即可。 FVIFWT=[(1+R)×(1−TW)]NFVIF_{WT}={\lbrack(1+R)\times(1-T_W)\rbrack}^NFVIFWT​=[(1+R)×(1−TW​)]N FV=200,000×[(1+0.12)×(1−0.05)]15=507,171FV=200,000\times{\lbrack(1+0.12)\times(1-0.05)\rbrack}^{15}=507,171FV=200,000×[(1+0.12)×(1−0.05)]15=507,171 请问这道题如果用计算器按怎么输入？ 如没有tax，是pv=2000,I/Y=12,N=15 有tax的话，这种题能用计算器按吗？

2020-01-16 19:42 1 · 回答