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tjksky · 2024年02月19日

这道题的两个现值我算出来不一样，能否列式帮我计算一下

  1. CFA I
  2. Quantitative

NO.PZ2023052407000009

问题如下：

If you require an 8 percent return and must invest USD500,000, which of the investment opportunities in Exhibit 1 should you prefer?


选项：

A.

Opportunity 1

B.

Opportunity 2

C.

Indifferent between the two opportunities.

解释：

Using cash flow additivity, compare the two opportunities by subtracting Opportunity 2 from Opportunity 1 yielding the following cash flows:


Finding the present value of the above cash flows at 8 percent discount rate shows that both investment opportunities have the same present value. Thus, the two opportunities are economically identical, and there is no clear preference for one over the other.

这道题的两个现值我算出来不一样，能否列式帮我计算一下

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品职助教_七七 · 2024年02月19日

嗨，爱思考的PZer你好：


以opportunity 2为例，CF0= -500，C01=225，C02=195，C03=160.008。其中F01-F03都直接按向下箭头跳过。

按NPV键，输入I=8，按向下箭头后，CPT NPV=2.5339。

相同流程可得opportunity 1的NPV也为2.5339。

由于两个投资机会的NPV相同，所以这两个投资机会是等价的。

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