NO.PZ2015120604000011
问题如下：
An investor purchased an annuity many years ago. The first payment of the annuity is to be received today. Assume the payment of the annuity is $5,000 constanly , the period the payment is 20 years. and the discount rate is 12%, calculate the today' value of the annuity:
选项：
A.$37,347.
B.$403,493.
C.$41,829.
解释：
C is correct.
Under the BGN mode.
N = 20; PMT = -5,000; I/Y =12; FV = 0; CPT PV = 41,828.89.
NO.PZ2015120604000011 [ CFA I ]
问题如下：
An investor purchased an annuity many years ago. The first payment of the annuity is to be received today. Assume the payment of the annuity is $5,000 constantly , the period the payment is 20 years. and the discount rate is 12%, calculate the today' value of the annuity:
选项：
A.
$37,347.
B.
$403,493.
C.
$41,829.
解释：
C is correct.
Under the BGN mode.
N = 20; PMT = -5,000; I/Y =12; FV = 0; CPT PV = 41,828.89.
年金就是类似于购买退休保险，五险一金之类的产品。
这题就类比有个人每年付5000买退休养老保险，买了20年，今天退休了将要收到第一笔养老金。所以是之前的20年就付了钱了，属于BGN模式。
如果错误的话，请问老师可以以类似背景讲一下这题该如何理解吗？
