问一道题：NO.PZ201710200100000210 第10小题 [ CFA II ]

NO.PZ201710200100000210问题如下10. Baseon Exhibit 4 anIntern 1’s estimate of the requirerate of return anthe vingrowth rate for the first four years, the growth rate beyonthe first four years consistent with the current priof US52 is closest to:A.3.80%.B.4.17%.C.4.23%.B is correct. The cante carrive the answer one of two ways. The first wis to use Equation 19 ansolve for gL: P 0 =[ ∑ t=1 n 0 ( 1+ g S ) t ( 1+r ) t ]+[ 0 ( 1+ g S ) n ( 1+ g L ) ( 1+r ) n ( r− g L ) ] Insert the known values: US2=[ ∑ t=1 4 2 ( 1+0.05 ) t ( 1+0.083 ) t ]+[ 2 ( 1+0.05 ) 4 ( 1+ g L ) ( 1+0.083 ) 4 ( 0.083− g L ) ] =7.4087+ 2.431( 1+ g L ) 1.37567( 0.083− g L ) Solve for gL: gL = 4.172%Check: 7.4087+ 2.431( 1+0.04172 ) 1.37567( 0.083−0.04172 ) 52.00The seconwis to use Equation 19 ansubstitute the fferent choices totermine the value thproces a value of US52 per share: US2=[ ∑ t=1 4 2 ( 1+0.05 ) t ( 1+0.083 ) t ]+[ 2 ( 1+0.05 ) 4 ( 1+0.04172 ) ( 1+0.083 ) 4 ( 0.083−0.04172 ) ] 为什么不用HMol计算呢 我发现我总是在用分步计算的地方用了HMol，有什么好的区别办法嘛

NO.PZ201710200100000210 问题如下 10. Baseon Exhibit 4 anIntern 1’s estimate of the requirerate of return anthe vingrowth rate for the first four years, the growth rate beyonthe first four years consistent with the current priof US52 is closest to: A.3.80%. B.4.17%. C.4.23%. B is correct. The cante carrive the answer one of two ways. The first wis to use Equation 19 ansolve for gL: P 0 =[ ∑ t=1 n 0 ( 1+ g S ) t ( 1+r ) t ]+[ 0 ( 1+ g S ) n ( 1+ g L ) ( 1+r ) n ( r− g L ) ] Insert the known values: US2=[ ∑ t=1 4 2 ( 1+0.05 ) t ( 1+0.083 ) t ]+[ 2 ( 1+0.05 ) 4 ( 1+ g L ) ( 1+0.083 ) 4 ( 0.083− g L ) ] =7.4087+ 2.431( 1+ g L ) 1.37567( 0.083− g L ) Solve for gL: gL = 4.172%Check: 7.4087+ 2.431( 1+0.04172 ) 1.37567( 0.083−0.04172 ) 52.00The seconwis to use Equation 19 ansubstitute the fferent choices totermine the value thproces a value of US52 per share: US2=[ ∑ t=1 4 2 ( 1+0.05 ) t ( 1+0.083 ) t ]+[ 2 ( 1+0.05 ) 4 ( 1+0.04172 ) ( 1+0.083 ) 4 ( 0.083−0.04172 ) ] 是否能用代入法把答案带入到genertwo stage mol中，而不用H mol

NO.PZ201710200100000210 这个题目可以详细画图解答以下吗

NO.PZ201710200100000210 只能这么一步步计算么

算出来4.19%，考试到底计算到几位啊，四舍五入4.2%，B,C都对啊。