问题如下图：
选项：
A. 
B. 
C. 
解释：
是不是可以理解为连续复利的计算和永续年金的计算是一样的？连续复利和每天复利之间的差别不能靠计算器来求解，是因为不知道PMT？
星星_品职助教 · 2019年08月31日
同学你好，
1. 连续复利和永续年金计算上的区别简单列举如下：
永续年金没有终值，而连续复利是有终值的
永续年金是按固定的频率付息（比如一年一次，半年一次，一季度一次），付息频率是离散(discrete)的形式；而连续复利是时时刻刻都在付息(continuous)。
永续年金PV=期间利息/期间利率，连续复利是FV=PV*e的r*N次方。
2. 对于第二个问题，对于非连续的复利来说，是可以用计算器计算的，输入PMT=0即可。对于连续型的复利只能用公式，不能用TVM的5个键，因为无论是期间利率还是一共多少期都无法确定
这两个概念除了在数量中会单独考察外，在其他科目如固收，权益和衍生品中应用都很多，需要重点掌握。加油
NO.PZ2017092702000007 问题如下 Given a €1,000,000 investment for four years with a stateannurate of 3% compouncontinuously, the fferenin its interest earnings comparewith the same investment compounily is closest to: A.€1. B.€6. C.€455. B is correct. The fferenbetween continuous compounng anily compounng is€127,496.85 – €127,491.29 = €5.56, or ≈ €6, shown in the following calculations. With continuous compounng, the investment earns (where PV is present value) PVersN - PV = €1,000,000e0.03(4) – €1,000,000= €1,127,496.85 – €1,000,000 = €127,496.85 With ily compounng, the investment earns: €1,000,000(1 + 0.03/365)^365(4) – €1,000,000 = €1,127,491.29 – €1,000,000 = €127,491.29.根据不同的计息频率来计算两个利息。第一个是“.... compouncontinuously”，第二个是“ compounily”，分别计算出利息后做差即可。 我ily算出来是12.74%，连续复利是e的0.003*4=4.4228不知道哪里有问题。。。
NO.PZ2017092702000007 问题如下 Given a €1,000,000 investment for four years with a stateannurate of 3% compouncontinuously, the fferenin its interest earnings comparewith the same investment compounily is closest to: A.€1. B.€6. C.€455. B is correct. The fferenbetween continuous compounng anily compounng is€127,496.85 – €127,491.29 = €5.56, or ≈ €6, shown in the following calculations. With continuous compounng, the investment earns (where PV is present value) PVersN - PV = €1,000,000e0.03(4) – €1,000,000= €1,127,496.85 – €1,000,000 = €127,496.85 With ily compounng, the investment earns: €1,000,000(1 + 0.03/365)^365(4) – €1,000,000 = €1,127,491.29 – €1,000,000 = €127,491.29.根据不同的计息频率来计算两个利息。第一个是“.... compouncontinuously”，第二个是“ compounily”，分别计算出利息后做差即可。 老师，compounng continuously求fv，用计算机是不是n=4, i/y=3, pv=1,000,000 ,pmt=0, cpt fv?
NO.PZ2017092702000007 问题如下 Given a €1,000,000 investment for four years with a stateannurate of 3% compouncontinuously, the fferenin its interest earnings comparewith the same investment compounily is closest to: A.€1. B.€6. C.€455. B is correct. The fferenbetween continuous compounng anily compounng is€127,496.85 – €127,491.29 = €5.56, or ≈ €6, shown in the following calculations. With continuous compounng, the investment earns (where PV is present value) PVersN - PV = €1,000,000e0.03(4) – €1,000,000= €1,127,496.85 – €1,000,000 = €127,496.85 With ily compounng, the investment earns: €1,000,000(1 + 0.03/365)^365(4) – €1,000,000 = €1,127,491.29 – €1,000,000 = €127,491.29.根据不同的计息频率来计算两个利息。第一个是“.... compouncontinuously”，第二个是“ compounily”，分别计算出利息后做差即可。 compounily 计算器怎么按呢
NO.PZ2017092702000007 问题如下 Given a €1,000,000 investment for four years with a stateannurate of 3% compouncontinuously, the fferenin its interest earnings comparewith the same investment compounily is closest to: A.€1. B.€6. C.€455. B is correct. The fferenbetween continuous compounng anily compounng is€127,496.85 – €127,491.29 = €5.56, or ≈ €6, shown in the following calculations. With continuous compounng, the investment earns (where PV is present value) PVersN - PV = €1,000,000e0.03(4) – €1,000,000= €1,127,496.85 – €1,000,000 = €127,496.85 With ily compounng, the investment earns: €1,000,000(1 + 0.03/365)^365(4) – €1,000,000 = €1,127,491.29 – €1,000,000 = €127,491.29.根据不同的计息频率来计算两个利息。第一个是“.... compouncontinuously”，第二个是“ compounily”，分别计算出利息后做差即可。 請問1,000,000e0.03(4)， 計算器如何按？謝謝
NO.PZ2017092702000007问题如下Given a €1,000,000 investment for four years with a stateannurate of 3% compouncontinuously, the fferenin its interest earnings comparewith the same investment compounily is closest to:A.€1.B.€6.C.€455. B is correct. The fferenbetween continuous compounng anily compounng is€127,496.85 – €127,491.29 = €5.56, or ≈ €6, shown in the following calculations. With continuous compounng, the investment earns (where PV is present value) PVersN - PV = €1,000,000e0.03(4) – €1,000,000= €1,127,496.85 – €1,000,000 = €127,496.85 With ily compounng, the investment earns: €1,000,000(1 + 0.03/365)^365(4) – €1,000,000 = €1,127,491.29 – €1,000,000 = €127,491.29.根据不同的计息频率来计算两个利息。第一个是“.... compouncontinuously”，第二个是“ compounily”，分别计算出利息后做差即可。 老师，请问这道题直接用两种情况的FV相减，也可以对吗？从而简化步骤