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18816562889 · 2022年05月31日

为什么不转化成实际季度利率？

  1. CFA I
  2. Quantitative

NO.PZ2018062016000012

问题如下：

David is going to retire in ABC company. The company has two retirement plans: Plan A is a one-time total retirement fund of $70,000, Plan B is a perpetuity of $900 at the end of each quarter that stated annual rate is 5% and compounded quarterly. Which plan should David choose?

选项：

A.

There is no difference

B.

Plan A

C.

Plan B

解释：

C is correct. The present value of Plan B is $900/(5%/4)=$72,000, which is larger than $70,000, the present value of Plan A. Therefore, David should choose Plan B.

题目给出的是名义年利率，那么除以4，得出的也是名义季度利率。但是我们计算不都用实际利率而不是名义吗？所以应该把名义季度利率再转化成实际季度利率再进行计算？

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1 个答案

星星_品职助教 · 2022年05月31日

同学你好，

名义年利率=（实际）期间利率×期数。本题即为名义年利率（5%）=季度利率×4，由此求得（实际）季度利率。

没有名义的季度利率，期间利率就是最初实际的利率。

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