, . , , .
, , . , . , . , 2.
1. () () ( NPV Net Present Value ) - CFi () , , , r. NPV :
(4.1)
n ( , ), I . , , :
NPV > 0 ,
NPV < 0 .
NPV 20%. 40-4=36. .; - 13.128 . . (4.1) , (2.7).
NPV = -36.0 + 13.128 (1 1/1.25):0.2 ≈ 3.261 . . > 0,
.
2. (IRR Internal Rate of Return) , NPV , . (4.1) r IRR, NPV , IRR
(4.2)
(4.2) n- , , , n . , , , . , CFi , (4.2) ( ). , . (4.2) .
|
|
:
IRR > ,
IRR < ,
CC .
-36.0 + 13.128 / (1+ IRR) + 13.128 / (1+ IRR) 2 + + 13.128 / (1+ IRR) 5 = 0,
IRR 24.1%. 20%, .
NPV IRR :
. 4.1. NPV.
, NPV , IRR. , NPV IRR=24.1% . , NPV , IRR .
3. (PI Profitability Index). :
(4.3)
1 n.