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5第五章课后答案翻译

5第五章课后答案翻译
5第五章课后答案翻译

第五章课后答案翻译

1.这是一个两部分估算.首先估算从65岁起每年需要的8000美圆退休金并持续15年.

n i pv fv pmt result

15 6 ? 0 8000 77697.99

以此计算出它的现值

然后在计算在未来的25年内以达到77697.99的未来值所需要现在每年存入多少

n i pv fv pmt result

25 6 0 79697.99 ? 1416.18

如果从现在起到退休时每年的通货膨胀为6%,那么退休后最初去出的8000美圆相当于今天的购买力

n i pv fv pmt result

26 6 ? 8000 0 1758.48

2.A.第一要先算出退休后为达到70%的目标替代率,在你退休那年,你的个人退休帐户的储蓄累积额(我们用实际工资百分计算):

n i pv FV PMT result

25 3.5?07PV=11.537然后计算为达到这个未来值,每年需要储蓄的金额:

n i PV FV PMT result

15 3.5011.537?PMT=5979

25 3.5011.537?PMT=2962

35 3.5011.537?PMT=1730 B.首先要先算出为在退休后保持相同的消费水平,在你退休那年,你的个人退休帐户的储蓄累积额(我们用实际工资百分比计算):n i pv FV PMT result

25 3.5?01Pv=16.482然后计算为达到这个未来值,每年要储蓄的金额

n i pv FV PMT result

15 3.5o16.482?PMT=8541

25 3.5o16.482?PMT=4232

35 3.5o16.482?PMT=2472

年份利率现值终值现金流结果

3010?1FV=$34.7849 2530?1FV=$36.4593

20 3.50?1FV=$28.2797

3050?1FV=$66.4388然后计算你为了取得这些将来值,每年必须储蓄多少?

年份利率现值终值现金流结果

201$34.78490?PMT=$1.93

203$36.45930?PMT=$2.45

20 3.5$28.27970?PMT=$1.99

205$66.43880?PMT=$5.33 4.A.长期通货膨胀率的估计值可以通过长期名义利率(每年8%)减去长期实际利率(每年3%)而得出,大约是每年5%。而精确值可以通过这个公式算出:

1+名义利率= (1+实际利率)(1+通货膨胀率)

从而得出通货膨胀率的精确值是每年4.854%

B乔治使用了名义利率来进行计算,结果,他严重低估了他所必须储存的金额。这个问题的时间轴如下:

年龄 45 46 65 66 85

时间 0 1 20 21 40

. . . .

现金流 X X 28,000 28,000

使用3%的实际利率来计算,最终导致只能得到$416,569.30

第一步:

年份利率现值终值现金流203?028000

PV = 416,569.30

按3%的实际利率计算,为了达到目标,乔治每年必须储存的金额为$15,502.92

第二步:

年份利率现值终值现金流2030416,569.30?

PMT = 15,502.92

所以,乔治每年必须储存的金额是$15,502.92而不是$6,007。他必须将工资的31%用于储蓄,而不是12%

c本题有关的时间轴如下:

年龄 45 46 65 66 85

时间 0 1 20 21 40

. . . .

现金流 46,250 46,250 12,000 12,000

消费支出 C C

如果乔治要在退休前后保持不变的消费水平,他必须算出C的值,他可以通过下面的等式得出:

以上等式说明,乔治今后40年的消费水平现值等于今后20年的人力资本(在支付了社会保障税以后)加上退休生活保障基金的现值。

首先我们算出C的值。乔治一生资源的现值等于

第一步:算出支付了社会保障税之后的人力资本的值:

n I PV FV PMT

203?046250

PV = 688,083.21

第二步:算出乔治65岁起得到的退休生活保障基金的现值:n I PV FV PMT

203?012000

PV = 178,529.70

第三步:算出乔治45岁起得到的退休生活保障基金的现值:n I PV FV PMT

203?178,529.700

PV = 98,847.57

第四步:算出45岁起一生资源的现值

688,083.21 + 98,847.56 = 786,930.78

第五步:算出C

n I PV FV PMT

403786,930.780?

C = PMT = 34,044.50

因此,乔治在46到65岁之间的每一年里,他必须储蓄$12,205.50,这是他支付了社会保障税之后的收入($46,250)与他的消费水平($34,044.50)的差额。

现在为了问题的准确性,让我们来证明一下。

第一步:算出储蓄的将来值:

n I PV FV PMT

2030?12,205.50

FV = 327,966.36

因此,20年内,按照3%的实际利率,每年存入$12,205.50,65岁时他将取得$327,966.36

第二步:算出65岁开始,通过储蓄得到的年金

n i PV FV PMT

203327,966.360?

PMT = 22,044.50

把这项年金加上退休生活保障基金,我们得到:

$22,044.50 + $12,000 = $34,044.50

5.a 乔治去年的薪水$50000,其实际涨幅为0%,因此他会和通货膨胀保持同等速率增长。

到退休时,他一共为公司工作了40年,因此他每年的退休金应为:1% x (50,000x 1.0425) x 40 =$53,316.73。我们必须先找出当他退休时每年要支付的价值,再推算出他退休时的现值。

n i PV FV PMT

158?053,316.73

PV65 = $456,363.41

然后再计算期现在的价值

n i PV FV PMT

258?456,3630

PV40 = $66,637.23

b 由于替代率是75%,所以乔治在退休后每年预期的实际收入就是0.75 x 50,000 =$37,500

既然他的退休金为他提供的只是他在金融上的部分需求,他就只用关心其目标收入和退休金提供的金额的不同,因此他要在退休前减少他的储蓄额

6.6.a. 由于货币的时间价值问题,你越早为自己的退休进行储蓄,你

存款的每一美元就会有更高的利息收入。假设你在15岁时为存入了1$且准备在65岁时退休,这1$将会以8%的利率增长到46.9$。然而这也意味着你需要延迟消费直至你退休为止。

b. 同样地,由于货币的时间价值问题,你在大学时储存的每一美元将比你以后存入的一美元获得更多的利息收入,所以你应该定期定额地坚持储蓄。

7.SOLUTION:

第1步: 首先找出两年后学费和放弃的工资的终值

年数利息率现值终值付款结果

230?45,000终值=

91,350.00 Step 2:找出工资增加值中作为 PV的部分:

年数利息率现值终值付款结果33391,350.000?PMT =

4,399.06 8.如果你买房的话,税后每年费用是:

$1,500 +0 .6 x $2,000 = $2,700

它的现值是$2700/0.02 = $135,000.

持有它的现值是:$135,000 + $200,000 = $335,000.

年租金点是:0.02 x $335,000 = $6,700 /每年

9.

我们先比较两种选择的净现值(NPV)

租车:(以期初来算):

N I PV FV PMT Result

368/12?0400PV=$-12,850该选择的净现值(NPV)为:–$12,850

买车:(以期末来算):

N I PV FV PMT Result

368/12?20,0000PV=-

$15,745

该选择的净现值(NPV)为:15,745 – 30,000 = -$14,255

从中我们可以看出, 买车花费比较多, 我应该选择租车。

b. 为了区分两者的不同,我们假设它们的现值是相等的,i.e. –12,850.

因此现值的售价为 30,000-12,850=17,150

N I PV FV PMT Result

368/1217,151?0FV=21,786三年后旧车盈亏相抵的售价是 $21,786.

10.正如新闻专栏里提到的那样,在理想的情况下,如果年纪较大的父母已经为退休作了很好的准备并在生命早期就开始进行储蓄,那么他们就可以避免借款支付教育费用。但是,反对上述观点的人会争辩说:在没有小孩的家庭里,父母进行储蓄的激励很小(他们会选择尽情享受他们的青春年华);因此,事实上,不论年轻或年长的父母,他们最终都将面对“支付巨额大学费用——就象是拒绝支付薪水的支票”的噩梦。

11.这个新闻专栏里的分析忽略了资本的时间价值。而要分析专栏里提到的状况的最好方法就是先假定一个利息率,比如说5% 乔正在享受的每月800美圆的收益在65岁时的累计终值是: N I PV FV PMT 结果

36=12*3 5/12 0 ? 800 FV=31003美圆

在65岁,当玛利决定开始享受社会保障收益时,乔已经得到了31003美圆,而不是专栏里提到的28800美圆

现在,为了知道玛利的所得在何时能超过乔,我们必须计算在每月支取200美圆(=1000美圆-800美圆)的情况下,要多久才能得到31003美圆

N I PV FV PMT 结果

? 5/12 31003 0 200 N=500

在250个月后,也就是说,在85岁另10个月时,玛利的所得才最终赶上乔。

12.

负债

资产

现金信用卡债务 

支票账户学生贷款 

储蓄账户汽车贷款

债券和股票抵押贷款 

房子资产净值 

a. 我用现行市场价格来估算我的资产,因为他们当初购置费用对我

是无关紧要的。

b. 尽管人力资本可能是任何人最大的资产,但是我并没有把它列在

我的资产负债清单里面,因为它是不确定的,难以量化的。为了

计算我将来所挣的钱的现值,我需要进行很多的假设。

c. 我还是没有计算在内。

13.A.为了比较这两种备选方案,我们需要比较两者的净现值。

买房方案:

基本上来说,这种方案包含了现在用$200000买房,并且在五十年后以它的市价卖出。考虑通胀因素:

房子的终值是:

年数通胀率现值终值现金流结果503200,000?0FV=876,781当你85岁的时候,房子价值会达到$876781。

现在,为了计算这种方案的净现值,我们必须折扣8%来计算抵押贷款和“再买回”抵押贷款。

年份通胀率现值终值现金流结果

508?876.7810PV=18,694所以这一项的净现值是:-200000+18694=-181306

租房方案:

我们假设租金在实际期间中是$10000。因此折扣为实际利率,等于

4.854%

年份利率现值终值现金流结果

50 4.854?010,000PV=-186,756这一方案的净现值= -186756

因此买房更为经济。

B.头三十年的抵押贷款:

年份利率现值终值现金流结果

50 4.854?010,000PV=-186,756后二十年的“再买回”抵押贷款:

年份利率现值终值现金流结果2080876,781?PMT=19,160

Assets Liabilities

Over the next 30 years House = 200,000 (real

dollars)

Cash outflow yearly

of 14,212

Mortgage 160,000

declining to zero

Over the last 20 years House = 200,000 decreasing to zero

Cash Inflow yearly of

19,160

-

资产负债

经过未来三十年房子= 200,000 (实际

美元)

每年现金流出为

14,212抵押贷款为160,000降到零。

经过前二十年房子价值 = 200,000 降

为零

每年现金流入为

19,160

-

Jb quinn 提到的大多数观点都在这道练习中讨论过了。也就是说抵押贷款驱使你去存款而房子可以作为贷款的抵押品。他同时在讨论中体现了通过拥有自己的房子,从而不用有房东,并且把它修复到合适居住而收

到的“无形利益”。

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新视野大学英语课后习题翻译答案

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英语课后翻译答案

Unit1 1、任何年满18岁得人都有资格投票。(be eligible to, vote) Anyone over the age of 18 is eligible to vote、 2、每学期开学前,这些奖学金得申请表格就会由学校发给每一个学生。(apply for, scholarship) A form to apply for these scholarships is sent by the university to every student before the start of every semester、 3、遵照医生得建议,我决定戒烟。(on the advice of) On the advice of my doctor, I decided to give up smoking、 4、公园位于县城得正中央。(be located in) The park is located right in the center of town、 5、这所大学提供了我们所需得所有材料与设备。(facilities) The university provides all the materials and facilities we desire、 1、她们花了多年得时间寻找内心得平静,但就是收效甚微。(search for) They spent many years searching for peace of mind, but with little success、 2、这种新药得成功研制已经使许多疾病得治疗发生了根本性得变革。(revolutionize) The successful development of the new drug has revolutionized the treatment of many diseases、 3、由于这个国家得经济不景气,这家公司濒于破产。(on the edge of) The company is on the edge of bankruptcy due to the economic depression in the country、 4、大学毕业后她成为了一名护士。她认为护士这一职业可能很有发展前途。(rewarding) He became a nurse after college、He thought nursing could be a very rewarding career、 5、她像往常一样在文件上签了名。(just as) He signed his name on the paper just as he has always done it、 Unit2

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1)你应该适当花一点时间休息和锻炼。(reasonable) You should spend a reasonable amount of time relaxing and exercising. 2) 总的来说,孩子们比过去任何时候都更健康,受到了更好的教育。(in general) In general, children are healthier and better educated than ever before. 3) 待适当的机会来临,他就能抓住。(come along) Wh en the right opportunity comes along, he’ll take it. 4)每天他都留出点时间跟家人在一起,享受生活。(set aside) Every day he sets aside some time to be with his family and enjoy life 5) 我记得那些黑暗的街道以及同父亲手拉手走路的情景。(hand in hand) I remember those dark streets and walking hand in hand with my father 6) 他最终辜负了父母的期望。(live up to) He finally failed to live up to his parents’ expectations. 相比之下,我们的用油量大幅度上升了。(in contrast) In contrast, our use of oil has increased enormously. 8) 经过努力,他成功地克服了自己的致命弱点。(overcome) He succeeded in his efforts to overcome his fatal weakness. 1) 人们认为,悲观常常会导致绝望、疾病和失败。 It is believed that pessimism often leads to hopelessness, sickness and failure. 2) 与此相反,乐观主义能使你幸福、健康和成功。 Optimism, by contrast, can make you happy, healthy and successful. 3) 当你做某件事失败时,把失败当作一种学习的经历从中汲取益处。 When you fail in something, profit from the failure as a learning experience ) 在问题或困难面前,要想想自己的长处并树立起自信心。 Think about your strengths and build up self-confidence in front of problems or difficulties. 5) 不要让消极的想法阻碍你。 Don’t let negative thoughts hold y ou back. 6) 每个人都经历过失败和失望,因此不要过多地责怪自己。 Everyone has experienced failures and disappointments, so don’t blame yourself too much. 1) She wore a dress ____with a pattern of rose__________ (有玫瑰图案) on it. 2) Helen had ____prepared a wonderful/good meal for us_ (为我们准备了一顿丰盛的饭菜). 3) Ann _______promised faithfully___ (信誓旦旦地保证) that she would never tell. 4) Could you ____deliver this letter__ (把这封信送到) to the accounts department? 5) We were offered ____a selection of milk and plain____chocolate (精选的牛奶巧克力和纯巧克力). 6) Tell the children to ___keep out of mischief / behave themselves_____(别胡闹). 7) We could hear _____the sound of distant thunder_____ (远处打雷的声音). 8) The project has now __received approval from the government (得到政府的批准). 9) Kelly loved her husband ____in spite of the fact that he drank too much (虽然他喝酒太多). 10) Experts seem unable to ____agree whether the drug is safe or not_ (就这个药是否安全取得一致意见). 1. Not every bomb has hit its target. 并非每个炸弹都击中了目标。 2. We can have one or the other but not both simultaneously. 我们能够得到其中一个,但不能同时两个都有。 3. She wanted nothing more than work. 她只想要工作。 4. You cannot be too careful. 你越仔细越好。 5. I have yet to receive an apology from a child who just ran over my foot while chasing a sibling. 有个小孩在追逐自家的兄弟姐妹时踩了我的脚,却仍未向我道歉。 1. 并非所有父母都和你一样能提供很多情况。 Not all parents are as informative as you

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大学生笔译比赛测试题 (测试时间为2小时) 姓名:分数: 一、汉译英(共50分) A Bite of China, a mouth-watering late-night documentary television series featuring delicious Chinese food, has attracted countless viewers, and moved many to tears. Given its subject matter and time slot, A Bite of China was initially considered a "weak player" on TV. Surprisingly, the documentary became popular immediately after airing, and has made viewers go beyond thinking about delicacies. "Man is what he eats," said Ludwig Feuerbach. From its very beginning, A Bite of China is not just a documentary about food. "The scenes of digging for bamboo shoots, hanging hams, catching fish using a net, opening a steamer filled with white steamed buns, and pulling wheat dough into thin strands for noodles move us to tears. What a lovely China!" a viewer said. A Bite of China is a serious documentary providing a unique view of Chinese as well as the relations between people and food and between people and society from the perspective of food. 舌尖上的The touching documentary reminds some people of their mother, and makes some realize that every grain comes from hard and laborious toil. Some people see patriotism in the documentary, and some consider it a great cultural export. How did this documentary achieve a tremendous influence beyond its subject matter in such a short time? "

大学英语精读2 课后翻译题答案

第一单元 1.她砰地关上门,一声不吭地走了,他们之间 那场争执就此结束。 Their argument ended when she slammed the door and left without a word. 2. 出席晚宴的客人对那个美国人威严的语气 感到有点意外。 The guests at the dinner party were slightly surprised at the commanding tone of the American. 3. 约翰尼已长大成熟,不再害怕独自呆在家里了。 Johnny has outgrown the fear of staying at home alone. 4. 当全部乘客都向出口处(exit) 走去时,他却独自留在座位上,好像不愿意离开这架飞机似的。 While all the other passengers made for the exit, he alone remained in his seat as if unwilling to leave the plane. 5. 这封信必须交给威尔逊博士本人。 The letter is to be handed to Dr. Wilson himself. 6. 南希虽然很想参加辩论,但腼腆得不敢开口。 While she felt like joining in the argument, Nancy was too shy to open her mouth. 7. 你觉得什么时候最有可能在家里找到他? What do you think is the likeliest time to find him at home? 8. 猎人一看见有只狐狸从树丛中出现并向他设下(lay) 的陷阱(trap) 方向跑去,脸上顿时闪出了兴奋的表情。 The hunter’s face lit up with excitement as soon as he saw a fox emerge from among the bushes and run in the direction of / make for the trap he had laid 第二单元 1) 会上有人建议任命一个十一人委员会来制定新章程。 It was suggested at the meeting that a committee of eleven be appointed to make a new constitution. 2) 这些青年科学家通过现场观察,获得了研究工作所需的第一手资料。 By making on-the-spot observations, the young scientists obtained first-hand information they needed in their research work. 3) 他很可能会因视力不好而被拒收入伍。 It is very likely that he will be rejected by the army because of his bad eyesight. 4) 委员会成员在新机场最佳选址(location) 这一问题上持有不同意见。 The committee members have conflicting opinions as to the best location of the new airport. 5) 亨利创作的艺术品在许多方面比他兄弟的要好。 Henry's works of art are superior in many respects to those of his brother's. 6) 我们产品质量的稳步提高在很大程度上是由于设备有所改进。 The steady rise in the quality of our products owes much to the improvement of our equipment. 7) 吉姆本想按照自己的判断行事,但他没有这样做,因为作为军人他得服从命令。Jim would have preferred to act on his own judgment, but he didn't because as a soldier he had to obey the order.

大学英语 课后翻译答案

Unit 1 1.3000多辆汽车因刹车问题昨日被召回(because of;recall) 1. More than 3000 cars were recalled yesterday because of a brake problem. 2.他尽管病得很重,但还是来参加会议了。(despite) 2. He came to the meeting despite his serious illness. 3.要确保同样得错误今后不再发生了。(see it that) 3. See to it that the same mistake won't happen again. 4.现在他们之间的了解多了一些,他们相处得就好些了。(now that) 4. Now that they've got to know more about each other,they get along better. 5.此时我发现自己被五六个男孩子围住了。(find oneself) 5. Then Ifound myself surrounded by five or six boys. 6.在这幸福的时刻,我向你致以最美好的祝愿。(on occasion) 6. I send you my best wishes on this happy occasion. Unit3 1)很多事情导致了我与那家公司断绝关系。(contribute to) A lot of things contributed to the end of my relationship with that company. 2.面对严峻的疾病,她表现出了巨大的勇气。(in the face of) She showed great courage in the face of serious illness. 3.我们得出结论,她讲的是真话。(come to) We came to the conclusion that she was telling the truth. 4他的秘书没有告诉他那次会议的情况。(fail to)

翻译题答案(略)

1.turned a deaf ear to our warnings 2.more than I can describe in words/beyond words 3.so that the experiment can go smoothly 4.did she stop weeping 5.He dropped several hints 6.It is the same with John/So it is with John. 7.as if (though) they spent a fortune 8.I turned my back on her 9.should we betray our country 10.I don’t think success is merely related to intelligence 11.focus on the long jump 12.Thanks to his positive attitude 13.I can hardly find three places without trees 14.on condition that 15.an increase of 20% compared to the previous year 16.Allowing for the traffic jam 17.I would not finish the work on time 18.has a prejudice against modern music 19.If only I had arrived earlier 20.most of whom are competent/qualified 21.Hardly had he saved the child at risk to himself/to his own life 22.For the sake of health 23.are facing the problem of lack of fresh water resources 24.It is because she is too inexperienced 25.Shocked at what he had heard 26.how to avoid getting ill while traveling 27.as far as the service is concerned 28.Adopting this method 29.not what you ought 30.With the weather so stuffy 31.honestly speaking 32.Talented though these writers may appear 33.so I asked for leave to see a doctor./so I asked for leave and went to see a doctor. 34.realize my dream/make my dream come true/materialize my dream(或者过去式) 35.meet difficulties or setbacks/frustrations 36.was kicked out /dismissed from the school 37.listen to/follow teachers’ instructions 38.would have survived 39.at a speed of 12 million per year 40.mother selling the old house 41.let alone discuss with him 42.turn to their parents for help 43.did he notice me and shouted with happiness 44.consider/take into account the factor of increasing price

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