Principles of Finance · 免费预览
年金：固定期限的等额支付
年金是在固定数量的期间内进行的等额支付流，其现值对每笔支付加以贴现并加总；先付年金的支付时点提前一个期间，价值也就多出一个期间的利息；这套工具用于为退休后的支取、结构化和解安排以及贷款还款定价。
1. Defining the ordinary annuity
Defining the ordinary annuity
2. A retirement withdrawal example
A retirement withdrawal example
3. Annuity due, one period earlier
Annuity due, one period earlier
4. Future value and payments
Future value and payments
5. The annuity defined
Which description correctly defines an ordinary annuity?
6. Reading the annuity factor
At 8 percent for five years, the ordinary annuity present value factor is about 3.9927. What does that number mean?
7. Sizing the retirement fund
You plan to withdraw 25,000 dollars at each year end for five years, earning 8 percent. Approximately what fund balance today exactly funds the plan?
8. Converting to annuity due
The same five withdrawals of 25,000 dollars at 8 percent, but the first withdrawal is immediate. How does the required fund change?
9. Finding the loan payment
A 200,000 dollar mortgage at 6 percent annual, compounded monthly, runs thirty years. With an annuity factor near 166.79, what is the monthly payment?
10. When each convention applies
Which situation is naturally an annuity due rather than an ordinary annuity?
11. The adjustment factor
To convert an ordinary annuity value to an annuity due, multiply by one plus what per-period quantity? Answer with one letter.
12. The payment-finding register
What three-letter calculator register holds the periodic payment computed in annuity problems? Write the letters.
13. The level stream's name
What one-word term names a level stream of payments for a fixed number of periods? Answer in lowercase.
14. The fund-exhaustion principle
A fund sized as the annuity present value of planned withdrawals will have exactly what balance after the final withdrawal? Write the number.