+ A(1+i)n-2 +
t —1 .
...
+
A(1+i)1
+
A(1+i)0
35
t =1
普通年金终值=年金×年金终值系数
∑ n (1+i)t—1=(1+i)n—1
t=1
i
(1+i)n—1
FV=C×
=C×FVI,FnAi
i
(Future Value Interest Factor for Annuity )
$1.30
$1.30×(1.05) $1.30 ×(1.05)2
…
0
1
2
3
$1.30
PV =
=$2.600
0.1—00.05.
34
普通年金(后付年金)
❖ 普通年金是指每期期末收付的年金,又称后付年金。 ❖ 终值的公式:
0
1
2nAA来自Ai%FVAn
∑(1+i) FVAn =
= A*
A(1+i)n-1 n
FV =C0×(1+r)T $5,0 00 =$ 0 5,00 × (1 0 +r)12 (1+r)12=$50,000=10 (1+r)=10112
$5,000
r大约为21.15%.
.
12
FVn=PV*FVIFr,t=5000*FVIFr,1内2 插法
FVIFr,12=10
利息率
系数
20
8.9161
.
21
(1+EA)R3 =$70.93 $50
$70.9313
EAR=
— 1=0.1236