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LilyRosemary · 2022年03月20日

为啥求today's pv是求第12年末时的pv啊

  1. CFA I
  2. Quantitative

NO.PZ2015120604000013

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 twentieth 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.

为啥求today's pv是求第12年末时的pv啊

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1 个答案

星星_品职助教 · 2022年03月21日

同学你好，

today's pv求的是0时点时的PV。

本题分两步折现，第一步需要先根据题干内容将年金折现到12时点，第二步要将这个12时点的值折现回0时点。

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