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

返回

Nicole Xiang · 2023年07月21日

请问

  1. CFA I
  2. Quantitative

NO.PZ2015120604000170

问题如下：

A.J. plans to pay his child's tuition fee for four years starting 15 years from now. He estimates the fees is $22,000 per year. If the saving account interest rate is 5.5% annually, and how much payment A.J. should make at the end of each year from now?

选项：

A.

$3,441.23

B.

$3,800.07

C.

$4,009.08

解释：

B is correct.

Step 1: N = 4, FV = 0, I/Y = 5.5, PMT = 22,000, CPT PV = -77,113.30

Step 2: PV =0, N = 14, I/Y = 5.5, FV = 77,113.30, CPT PMT =-$3,800.07

老师，我发现我做类似的题最容易做错的部分就是：前面一个时间段短年份数，就像这道题，我就会按照15年来计算。

添加评论
1 个答案

星星_品职助教 · 2023年07月22日

同学你好，

这个问题的本质是先付和后付年金的问题。

先付年金的首笔付款是在年初，也就是说先付年金的现值是和首笔付款在同一个时间点的。例如本题的首笔付款在15时点，那么如果将现值折算到15时点，就相当于认为这是一笔先付年金。但实际题干中并没有说这是先付年金。用先付的方法解决后付的问题，就会出错。

对于后付年金而言，首笔付款是在年末，也就是现值是在首笔付款的前一个时间点上的。首笔付款在15时点，那么现值就应该求到14时点。所以自然就可以得到第二步时的N=14。

简单总结一下，除非题干中给出了先付年金的明确条件，否则都默认按照后付年金来做。如果是后付年金，那么现值就应该求到首笔付款的前一期。这样做，第二步的N就不会算错了。

  • 1

    回答

  • 0

    关注

  • 209

    浏览
相关问题

NO.PZ2015120604000170问题如下 A.J. plans to phis chils tuition fee for four years starting 15 years from now. He estimates the fees is $22,000 per year. If the saving account interest rate is 5.5% annually, anhow mupayment A.J. shoulmake the enof eayefrom now? A.$3,441.23B.$3,800.07C.$4,009.08B is correct.Step 1: N = 4, FV = 0, I/Y = 5.5, PMT = 22,000, CPT PV = -77,113.30Step 2: PV =0, N = 14, I/Y = 5.5, FV = 77,113.30, CPT PMT =-$3,800.07为什么N是14题目不是说从现在开始的15年吗

2023-06-08 19:57 1 · 回答

NO.PZ2015120604000170 问题如下 A.J. plans to phis chils tuition fee for four years starting 15 years from now. He estimates the fees is $22,000 per year. If the saving account interest rate is 5.5% annually, anhow mupayment A.J. shoulmake the enof eayefrom now? A.$3,441.23 B.$3,800.07 C.$4,009.08 B is correct.Step 1: N = 4, FV = 0, I/Y = 5.5, PMT = 22,000, CPT PV = -77,113.30Step 2: PV =0, N = 14, I/Y = 5.5, FV = 77,113.30, CPT PMT =-$3,800.07 除非北美那边学费是年末付的。 这个显然不符合常理吧。是不是算4年学费现值应该选年初支付呢。因为这个是有差异的呀。

2023-04-22 10:01 1 · 回答

NO.PZ2015120604000170 问题如下 A.J. plans to phis chils tuition fee for four years starting 15 years from now. He estimates the fees is $22,000 per year. If the saving account interest rate is 5.5% annually, anhow mupayment A.J. shoulmake the enof eayefrom now? A.$3,441.23 B.$3,800.07 C.$4,009.08 B is correct.Step 1: N = 4, FV = 0, I/Y = 5.5, PMT = 22,000, CPT PV = -77,113.30Step 2: PV =0, N = 14, I/Y = 5.5, FV = 77,113.30, CPT PMT =-$3,800.07 15、16、17、18年需要交学费，那应该是年初交，所以计算机要调整成BGN，N=4,I/Y=5.5,PMT=22000,FV=0,得出折现到15年时候得PV=81354；从现在0时刻开始，每年年末存一笔钱，到14年，一共存了14笔，计算机调整成ENN=14,I/Y=5.5,PV=0,FV=-81354,

2023-02-03 14:57 2 · 回答

NO.PZ2015120604000170 问题如下 A.J. plans to phis chils tuition fee for four years starting 15 years from now. He estimates the fees is $22,000 per year. If the saving account interest rate is 5.5% annually, anhow mupayment A.J. shoulmake the enof eayefrom now? A.$3,441.23 B.$3,800.07 C.$4,009.08 B is correct.Step 1: N = 4, FV = 0, I/Y = 5.5, PMT = 22,000, CPT PV = -77,113.30Step 2: PV =0, N = 14, I/Y = 5.5, FV = 77,113.30, CPT PMT =-$3,800.07 这道题可以翻译下吗 我理解的是用15年每年定期存入的钱支付4年的学费，那么N就是等于15呀

2022-12-19 14:01 3 · 回答