答案的公式是哪里来的 课程中有讲么？在哪部分

问题如下：

Question If the price of a stock goes from $15.00 to $16.20 in one year, the continuously compounded rate of return is closest to:

选项：

A.7.70%. B.8.33%. C.8.00%.

解释：

Solution

A is correct. The continuously compounded rate of return is calculated with the following formula: r_0,T = ln(S_T/S₀)where

r_0,T = r_0,1 = and is the continuously compounded rate of return from time 0 to time T (1 year)

S₀ = 15.00 and is the price of the stock at time 0

S_T = 16.20 and is the price of the stock at time T (1 year)

The continuously compounded rate of return is: r_0,1 = ln(16.20/15.00) = 7.70%.

Alternatively, the end of period price, 16.20 can be found from 15.00 × e^0.077×1.

B is incorrect. It is calculated as: exp(Holding period return) - 1= exp[(16.20/15.00)-1 ] - 1 = exp(8.00%) - 1 = 8.33%.

C is incorrect. It is the holding period return: (16.20/15.00) - 1 = 8.00%.