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摩羯大小姐 · 2021年10月09日

这个如果设立联立方程式取交点的值要怎么做呢

NO.PZ2018062005000013

问题如下:

There are two projects with the same conventional cash flow patterns and their information listed below:

To make the NPV of two projects equal, the cost of capital should be

选项:

A.

smaller than 9%

B.

between 9% and 12.06%

C.

between 12.06% and 14.78%

解释:

B is correct. The question is more obvious to draw NPV profiles. When cost of capital is 9%, Project B is superior to Project A based on NPV rules (428>255). Due to 14.78%>12.06%, Project A is superior to Project B when cost of capital is larger than 12.06%. Therefore, the crossover rate of Project A and B is between 9% and 12.06%.

小于12.06能理解,为啥大于9还是不清楚。如果两个设联立方程式求解后与9比较要怎么做?
1 个答案

王琛_品职助教 · 2021年10月11日

嗨,爱思考的PZer你好:


1)小于12.06能理解,为啥大于9还是不清楚。

同学好,这道题是通过 NPV Profile 画图法解题的,解题思路,请参考:https://class.pzacademy.com/qa/39809

2)如果两个设联立方程式求解后与9比较要怎么做?

这道题两个项目,没有告诉现金流明细,所以没法通过联立方程式求解哈

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虽然现在很辛苦,但努力过的感觉真的很好,加油!