开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

Joanne · 2023年04月29日

这题金融计算器怎么按的,可以讲一下吗?

NO.PZ2018103102000082

问题如下:

Matt has estimated the value of Company M by using the two-stage dividend discount model. The company has paid a dividend of $1 per share for the most recent year. In the model, the analyst has predicted that the dividend will grow at 10% a year for the first three years and then grow at 5% per year into the indefinite future. Given the required rate of return of 10%, what`s the current value of Company M stock?

选项:

A.

$22.1

B.

$26.4

C.

$24.0

解释:

C is correct.

考点:Two Stage Model

解析:D0 = $1 D1 = $1.1 D2 = $1.21 D3 = $1.331

P3=D3×(1+gL)rgL=1.331×(1+5%)10%5%=$27.951P_3=\frac{D_3\times\left(1+g_L\right)}{r-g_L}=\frac{1.331\times\left(1+5\%\right)}{10\%-5\%}=\$27.951

V0=D11+r+D2(1+r)2+D3+P3(1+r)3V_0=\frac{D_1}{1+r}+\frac{D_2}{\left(1+r\right)^2}+\frac{D_3+P_3}{\left(1+r\right)^3}

=1.11.1+1.211.12+1.331+27.9511.13=$24=\frac{1.1}{1.1}+\frac{1.21}{1.1^2}+\frac{1.331+27.951}{1.1^3}=\$24

这题金融计算器怎么按的,可以讲一下吗?

1 个答案

王园圆_品职助教 · 2023年04月29日

本题首先按CF,然后按2nd+Clr Work;之后按向下按键,在界面显示CF1时输入(第一期dividend)1.1,然后按enter;之后继续按向下键,显示CF2时输入(第二期dividend) 1.21;之后继续按向下键,显示CF3时输入(第三期dividend+P3) 1.331+27.951,然后按NPV键输入利率10,然后按enter;然后按向下键,再按CPT键就可以显示NPV的值

 

具体何老师的计算输入演示在前导课的计算器使用课程中的”Cash flow calculation“视频中,按1.5倍速播放下的第9分钟开始有讲解,同学可以再去听一下

  • 1

    回答
  • 0

    关注
  • 249

    浏览
相关问题

NO.PZ2018103102000082 问题如下 Matt hestimatethe value of Company M using the two-stage vinscount mol. The company hpaia vinof $1 per share for the most recent year. In the mol, the analyst hprecteththe vinwill grow 10% a yefor the first three years anthen grow 5% per yeinto the infinite future. Given the requirerate of return of 10%, what`s the current value of Company M stock? A.$22.1 B.$26.4 C.$24.0 C is correct.考点Two Stage Mol解析 = $1 = $1.1 = $1.21 = $1.331P3=×(1+gL)r−gL=1.331×(1+5%)10%−5%=$27.951P_3=\frac{3\times\left(1+g_L\right)}{r-g_L}=\frac{1.331\times\left(1+5\%\right)}{10\%-5\%}=\$27.951P3​=r−gL​​×(1+gL​)​=10%−5%1.331×(1+5%)​=$27.951V0=1+r+(1+r)2++P3(1+r)3V_0=\frac{1}{1+r}+\frac{2}{\left(1+r\right)^2}+\frac{3+P_3}{\left(1+r\right)^3}V0​=1+r​​+(1+r)2​​+(1+r)3​+P3​​=1.11.1+1.211.12+1.331+27.9511.13=$24=\frac{1.1}{1.1}+\frac{1.21}{1.1^2}+\frac{1.331+27.951}{1.1^3}=\$24=1.11.1​+1.121.21​+1.131.331+27.951​=$24 为什么求P0的时候不需要加入?

2023-04-30 12:51 1 · 回答

NO.PZ2018103102000082 老师 一阶段 g=10% Re=10% 分母Re-g就是0啊?这个公式成立吗?

2021-06-25 10:31 1 · 回答

在代入CF的时候,CF00需要代入1吗?为什么直接从CF01开始代入呢?

2020-05-30 07:46 1 · 回答

$26.4 $24.0 C is correct. 考点Two Stage Mol 解析 = $1  = $1.1  = $1.21  = $1.331 $$\(P_3=\frac{3\times\left(1+g_L\right)}{r-g_L}=\frac{1.331\times\left(1+5\%\right)}{10\%-5\%}=\$27.951\) \(V_0=\frac{1}{1+r}+\frac{2}{\left(1+r\right)^2}+\frac{3+P_3}{\left(1+r\right)^3}\) \(=\frac{1.1}{1.1}+\frac{1.21}{1.1^2}+\frac{1.331+27.951}{1.1^3}=\$24\)$$ Cf01=1.1,cf02=1.21,cf03=29.282(1.331+27.951),I=5%,得出NPV=27.44,不对啊?

2020-02-09 22:20 4 · 回答