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Olivia Chen · 2020年11月07日

问一道题:NO.PZ2016021705000002 [ CFA I ]

问题如下:

Given the following cash flows for a capital project, calculate its payback period and discounted payback period. The required rate of return is 8 percent.

The discounted payback period is:

选项:

A.

0.16 years longer than the payback period.

B.

0.51 years longer than the payback period.

C.

1.01 years longer than the payback period.

解释:

C is correct.

As the table shows, the cumulative cash flow offsets the initial investment in exactly three years. The payback period is 3.00 years. The discounted payback period is between four and five years. The discounted payback period is 4 years plus 24.09/3,402.92= 0.007 of the fifth year cash flow, or 4.007 = 4.01 years. The discounted payback period is 4.01 3.00 = 1.01 years longer than the payback period.

这两个分别用计算器怎么求,老师可以详细解释下步骤吗?
1 个答案

王琛_品职助教 · 2020年11月08日

- 这道题是经典题 P6 的 2.4 题
- 常规算法,请参考:https://class.pzacademy.com/qa/19376
- 简便方法,请参考:https://class.pzacademy.com/qa/18919
- 常规算法对 DBP 的计算器按法,还可以参考经典题 P5 的 2.2 题,老师讲的很详细
- 建议先看一下上面的链接和老师的讲解,如果还有疑问,可以再具体交流讨论