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ladycoco想放假 · 2017年10月31日

问一道题：NO.PZ2015120604000013 [ CFA I ]

  1. CFA I
  2. Quantitative
请问，第二步的折现的n为什么等于4而不是5呢？five years from today指的是第五年初还是末呢？
问题如下图：
选项：
A.
B.
C.
解释：
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1 个答案

doglyt · 2017年10月31日

养老金的领取是年初的，你可以把它当作约定俗成的，本文说从现在之后第五年领取养老金，指的是第五年年初，也就是第四年年末，如果你计算器算折现用end模式就是n=4，如果用beg模式就是n=5

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