, , 20%.
, % | |
- PB, . | |
- DPB, . | |
ARR,% | |
NPV, . | |
- PI | |
- IRR, % |
( ), .
, 11 . , .
: ,
= / .
:
1. .
- 115000$.
: 32000$;
: 41000$;
: 43750$;
: 38250$.
.
1 2 : 32000 + 41000 = 73000$, 115000$.
1, 2 3 : 73000 + 43750 = 116750 115000, , 3 .
( ), .
= (1 - (116750 - 115000)/43750) = 0,96
: 3 ( 2,96 ).
2. .
- $12800.
: $7360;
: $5185;
: $6270.
.
, .
1 2 : 7360 + 5185 = $12545, $12800.
1, 2 3 : 12545 + 6270 = 18815 12800, , 3 .
, .
= (1 - (18815 - 12800)/6270) = 0,04 .
: 3 ( 2,04 )
- . : i- 1 + , 0.
|
|
:
(DPP) - ;
n - ;
CFt - t;
r - ( );
Io - .
: , , , .
: , .
: , , Discounted Payback Period, Present Value Payback, PVP.
: DPP -> min ( , )
1. - 115000$.
: 32000$;
: 41000$;
: 43750$;
: 38250$.
- 9,2%
.
:
PV1 = 32000 / (1 + 0,092) = 29304,03$
PV2 = 41000 / (1 + 0,092)2 = 34382,59$
PV3 = 43750 / (1 + 0,092)3 = 33597,75$
PV4 = 38250 / (1 + 0,092)4 = 26899,29$
.
1 2 : 29304,03 + 34382,59 = 63686,62$, 115000$.
1, 2 3 : 63686,62 + 33597,75 = 97284,36$, 115000$.
1, 2, 3 4 : 97284,36 + 26899,29 = 124183,66$ 115000, , 4 .
( ), .
= (1 - (124183,66 - 115000)/26899,29) = 0,6586
: 4 ( 3,66 ).
NPV
, . , . :
, , (), NPV :
CFt - t;
It - () t- ;
r - ( );
n - (, ) t = 1, 2,..., n ( ).
CFt t 1 n; CF > 0 (: ).
1. - 115000$.
: 32000$;
: 41000$;
: 43750$;
: 38250$.
- 9,2%
|
|
n = 4.
:
PV1 = 32000 / (1 + 0,092) = 29304,03$
PV2 = 41000 / (1 + 0,092)2 = 34382,59$
PV3 = 43750 / (1 + 0,092)3 = 33597,75$
PV4 = 38250 / (1 + 0,092)4 = 26899,29$
NPV = (29304,03 + 34382,59 + 33597,75 + 26899,29) - 115000 = 9183,66$
: 9183,66$.
564 870 .
- PI
() , , ( ) . .
:
CFt - t;
It - () t- ;
r - ( );
n - (, ) t = 0, 1, 2,..., n.
. - 115000$.
: 32000$;
: $41000;
: $43750;
: $38250.
- 9,2%
:
PV1 = 32000 / (1 + 0,092) = $29304,03
PV2 = 41000 / (1 + 0,092)2 = $34382,59
PV3 = 43750 / (1 + 0,092)3 = $33597,75
PV4 = 38250 / (1 + 0,092)4 = $26899,29
DPI = (29304,03 + 34382,59 + 33597,75 + 26899,29) / 115000 = 1,07985
: 1,079.
PI > 1 , .
, NPV, .. I > 0. :
- I > 1,0 ;
- I < 1,0 ;
- I = 1,0 , IRR.
- IRR, %
() , .
, ( 0,25), .
:
324,4% .
1 | |||
2 | |||
3 | |||
4 | |||
5 |
3. .
.
, , . , , .