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.
- 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. ;
- Calculate the PV today: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74.
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.
- 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. ;
- Calculate the PV today: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT PV = 9,407.74.
题目中说The first payment is to be received at the end of thirteenth years. 的意思不是说是在13年结束时会收到。那不就是说明13年结束是在14年年初。为什么用的是N=12? 不需要用到BGN吗？为什么不能先算出第12年的，然后再算出后面的然后再加在一起？
