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Rose · 2018年06月03日

问一道题:NO.PZ2015120601000001 [ CFA I ]

问题如下图:

选项:

A.

B.

C.

解释:

这道题不是很明白是怎么做出来的,求解释
2 个答案

源_品职助教 · 2018年06月04日

因为从投资者角度而言,投资期初一般是付出现金流,而在投资期结束是获得现金流。

如果从基金经理角度而言,投资期出一般获得现金流,而在投资期结束付出现金流。

所以无论怎么看,期初期末现金流符号应该相反。

源_品职助教 · 2018年06月03日

这道题还是用计算器计算。

对于SALE而言,三年后翻倍,那就假设现在是1,未来第三年是-2.所以录入数据N=5,PV=1,PMT=0,FV=-2,那么直接计算I/Y就可以求得复合增长率。

同理可以求得INCOME的增长率。

Hecaa · 2018年06月04日

请问怎么理解现在和未来的现金流流向相反?(现在是1,将来是-2)

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