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桃子 · 2020年01月29日

问一道题：NO.PZ2015120604000013

  1. CFA I
  2. Quantitative

问题如下：

An annuity of $2,000 per year will be received for twenty years. The first payment is to be received at the end of thirteenth years. Assume the  discount rate is 7% over next years, calculate the today's present value of the annuity

选项：

A.

$8,792.

B.

$9,408.

C.

$10,066.

解释：

B is correct.

  1. Calculate the  PV of annuity at the end of the twelfth years : N = 20; I/Y = 7; PMT = -2,000; FV = 0; CPT  PV = 21,188.03. ;
  2. Calculate the  PV today: N = 12; PMT = 0; FV = -21,188.03; I/Y = 7; CPT  PV = 9,407.74.

请问老师这道题pv能不能用A/R来计算？为什么2000/0.07=28572.4与计算器算得不一样？

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1 个答案

星星_品职助教 · 2020年02月03日

同学你好，

A/r是永续年金（无限期）的算法，而这道题是有期限的（20年），所以不能用这个公式。

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