Rambler's Top100




4.3. ?????? ????????????? ????????? ??????? ? ?????????? ???????????? ? ??????????? ????????
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Опубликовал: Administrator  
19.07.2008
????? ??????. ?? ????????????? ???????? ???? ????????? ? ??????? ?????? ????? $10 000, ? ????? ? ??????? 10 ??? ??????? ????? ?????? ????? $3 000 ? ???. ????? ?????????????? ??????? ???????, ???? ?????? ???????? 8% ? ???.
???????: ? ????? ???? ??????? ?????? ??????: ????? Inv??????? ??????????, R??????????? ??????? ????? ? ??????? ? ???, i – ?????? ???????? ??? ?????????? ? ???????. ?????????? ?????????????? ???????.
????? ??????? ???? ???????? ??????? ????? ? ??????? ???????? R, ????????????? ? ???. ??????????? ???????? ???? ????? ?=R*a(n,i), ??? ?(n,i)
???????????, ?????????? ?????. ??????, ??????????? ?????? ????? ??????? ???? NVP=Inv+R*a(n,i), ?????????? ??????? d=NVP/(Inv). ??? ?????????? ???? ????????????
???? s???? ???????????, ?? s?????? ???? ??????????? ?? ???? ????? ????? ?, ??? Inv+R*a(r,i)≥0 ??? a(r,i)-Inv/R. ?? a(r,I)=[\ (\+I) r]li. ??????? ???????????????? ??????????? ????: r>ln(\+i*Inv/R)/ln(i+\). ?????????? ?????????? ??????? q?????? ????????????? ????????? Inv+R*a(n,q)=0. ???? ??? ????????? ????? ????????? ??????, ?? ????? ??????????. ? ??????? ?????????? ??????????? ?????? ??? ????????? ????????.
???? -Inv>nR, ?? ????????? ???? ????????? ??????? ?? ?????, ??? i?*4«^)=Ml+^Ml+^+...+Ml+#<^X. ??????? ????? -Inv<nR. ?? ?????? ????, ??? ??????? q?????????? ? ??? ????? ????? ??????????? ?????????, ?????????? q? ????? ????? ?? ??? ???, ????? ??????????? ?????? ????????.
?????? 1.
????? ??????, ???????????????? ? ?????? ????? ?????????. ??? ??? ?(?,8)=6,710, ?? ??????????? ???????? ?????? ??????? ???? 3000*6,710=20130,
??????, ??????????? ?????? ????? ???? NPV=20 130 10 000=10 310, ?????????? ??????? ???? 10 310/10 000=1,031 ??? ???? ? ????????? 103,1%. ??? ?????????? ?????????? ?????????? ?????? ????? q, ??? ?(10, q)=\0 000/3 000=?,3?. ?? ??????? ????????????? ?????????? ????? (??. ?????????? 3) ????????? q, ???????? q=27%.