NO.PZ2018101501000015 问题如下 Company M`s management is evaluating the optimservilife of equipment. In orr to make the analysis, managers have estimatethe investment outlay, annuafter-toperating cash flow anafter-tsalvage for eascenario. Assuming a 15% annuscount rate, what`s the optimservilife? both 2 years an4 years 2 years 4 years B is correct.考点Mutually Exclusive Projects with fferent Lives解析在选择不同期限的互斥项目时，我们可以使用EAA法。先计算出每一个项目的NPV，再根据算出来的NPV来计算PMT，从而挑选一个能给我们带来等效年金最大的项目。NPV2 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 +5,000+5,0001.152\frac{5,000+5,000}{1.15^2}1.1525,000+5,000 = 3,648.39 PV = -3,648.39 , N=2 , I/Y=15 , FV=0 CPT→PMT2 = 2,244.18 NPV4 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 +5,0001.152\frac{5,000}{1.15^2}1.1525,000 +4,0001.153\frac{4,000}{1.15^3}1.1534,000 +2,000+2,0001.154\frac{2,000+2,000}{1.15^4}1.1542,000+2,000 = 4,784.75 PV = -4,784.75 , N=4 , I/Y=15 , FV=0 CPT→PMT4 = 1,675.93根据计算结果，我们应该选择2年的使用年限。 老师请问如果NPV是负数，那用计算器算出来的PMT也是负数，是不是绝对值越小的越好啊，表示两个相比较的project的哪个成本更小是吗
NO.PZ2018101501000015 Company M`s management is evaluating the optimservilife of equipment. In orr to make the analysis, managers have estimatethe investment outlay, annuafter-toperating cash flow anafter-tsalvage for eascenario. Assuming a 15% annuscount rate, what`s the optimservilife? both 2 years an4 years 2 years 4 years B is correct. 考点Mutually Exclusive Projects with fferent Lives 解析在选择不同期限的互斥项目时，我们可以使用EAA法。先计算出每一个项目的NPV，再根据算出来的NPV来计算PMT，从而挑选一个能给我们带来等效年金最大的项目。 NPV2 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,000+5,0001.152\frac{5,000+5,000}{1.15^2}1.1525,000+5,000 = 3,648.39 PV = -3,648.39 , N=2 , I/Y=15 , FV=0 CPT→PMT2 = 2,244.18 NPV4 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,0001.152\frac{5,000}{1.15^2}1.1525,000 + 4,0001.153\frac{4,000}{1.15^3}1.1534,000 + 2,000+2,0001.154\frac{2,000+2,000}{1.15^4}1.1542,000+2,000 = 4,784.75 PV = -4,784.75 , N=4 , I/Y=15 , FV=0 CPT→PMT4 = 1,675.93 根据计算结果，我们应该选择2年的使用年限。 在第二年的时候，公司可以选择放弃5000元的处置设备的收益，换取未来2年（t=3,t=4)每年4000元的收入(t=4,totCF=2000+2000）。 也就是在第二年，选择继续使用机器的NPV=-5000+4000/(1+0.15)+4000/(1+0.15)^2=1.5，所以应当继续使用机器至第四年？
NO.PZ2018101501000015 Company M`s management is evaluating the optimservilife of equipment. In orr to make the analysis, managers have estimatethe investment outlay, annuafter-toperating cash flow anafter-tsalvage for eascenario. Assuming a 15% annuscount rate, what`s the optimservilife? both 2 years an4 years 2 years 4 years B is correct. 考点Mutually Exclusive Projects with fferent Lives 解析在选择不同期限的互斥项目时，我们可以使用EAA法。先计算出每一个项目的NPV，再根据算出来的NPV来计算PMT，从而挑选一个能给我们带来等效年金最大的项目。 NPV2 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,000+5,0001.152\frac{5,000+5,000}{1.15^2}1.1525,000+5,000 = 3,648.39 PV = -3,648.39 , N=2 , I/Y=15 , FV=0 CPT→PMT2 = 2,244.18 NPV4 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,0001.152\frac{5,000}{1.15^2}1.1525,000 + 4,0001.153\frac{4,000}{1.15^3}1.1534,000 + 2,000+2,0001.154\frac{2,000+2,000}{1.15^4}1.1542,000+2,000 = 4,784.75 PV = -4,784.75 , N=4 , I/Y=15 , FV=0 CPT→PMT4 = 1,675.93 根据计算结果，我们应该选择2年的使用年限。 老师好，请问如何判断NPV代入PV时候的正负号呀？关于PMT绝对值取大还是取小，是不是表格中说cash flow就取绝对值大的，说cost就取绝对值小的，不用管NPV是流入还是流出呢？
NO.PZ2018101501000015 Company M`s management is evaluating the optimservilife of equipment. In orr to make the analysis, managers have estimatethe investment outlay, annuafter-toperating cash flow anafter-tsalvage for eascenario. Assuming a 15% annuscount rate, what`s the optimservilife? both 2 years an4 years 2 years 4 years B is correct. 考点Mutually Exclusive Projects with fferent Lives 解析在选择不同期限的互斥项目时，我们可以使用EAA法。先计算出每一个项目的NPV，再根据算出来的NPV来计算PMT，从而挑选一个能给我们带来等效年金最大的项目。 NPV2 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,000+5,0001.152\frac{5,000+5,000}{1.15^2}1.1525,000+5,000 = 3,648.39 PV = -3,648.39 , N=2 , I/Y=15 , FV=0 CPT→PMT2 = 2,244.18 NPV4 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,0001.152\frac{5,000}{1.15^2}1.1525,000 + 4,0001.153\frac{4,000}{1.15^3}1.1534,000 + 2,000+2,0001.154\frac{2,000+2,000}{1.15^4}1.1542,000+2,000 = 4,784.75 PV = -4,784.75 , N=4 , I/Y=15 , FV=0 CPT→PMT4 = 1,675.93 根据计算结果，我们应该选择2年的使用年限。 1.这里为什么默认用EAA，不用最小乘数法呢 2.我使用了最小乘数法算出来结果和EAA相同，考试时候题目没说的话，默认使用哪一种呢
NO.PZ2018101501000015 Company M`s management is evaluating the optimservilife of equipment. In orr to make the analysis, managers have estimatethe investment outlay, annuafter-toperating cash flow anafter-tsalvage for eascenario. Assuming a 15% annuscount rate, what`s the optimservilife? both 2 years an4 years 2 years 4 years B is correct. 考点Mutually Exclusive Projects with fferent Lives 解析在选择不同期限的互斥项目时，我们可以使用EAA法。先计算出每一个项目的NPV，再根据算出来的NPV来计算PMT，从而挑选一个能给我们带来等效年金最大的项目。 NPV2 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,000+5,0001.152\frac{5,000+5,000}{1.15^2}1.1525,000+5,000 = 3,648.39 PV = -3,648.39 , N=2 , I/Y=15 , FV=0 CPT→PMT2 = 2,244.18 NPV4 = -10,000 + 70001.15\frac{7000}{1.15}1.157000 + 5,0001.152\frac{5,000}{1.15^2}1.1525,000 + 4,0001.153\frac{4,000}{1.15^3}1.1534,000 + 2,000+2,0001.154\frac{2,000+2,000}{1.15^4}1.1542,000+2,000 = 4,784.75 PV = -4,784.75 , N=4 , I/Y=15 , FV=0 CPT→PMT4 = 1,675.93 根据计算结果，我们应该选择2年的使用年限。 为什么只能二选一?题干没有说，所以我两个都选。谢谢。
