(I) .
, . , K/, K, .
Aopt
3. ( . )
.
1.
R 0 = max
R 1 = 0
R 0max = Ct0 - I0 + PV (Gt1 + Gt1I0) = (Ct0 - I0) + (Gt1 + Gt1I0) / (1 + r)
R 0max = (100 . - 50 .) + (150 . + 100 .) / (1 + 0,1)1 = 277272,72 .
2.
R 1 = max
R 0 = 0
R 1max = Gt1 + Gt1I0 + FV (Ct0 - I0) = Gt1 + Gt1I0 + (Ct0 - I0) (1 + r)
R 1max = 150 . + 100 . + (100 . - 50 .) (1+0,1) 1 = 305 . .
2 :
1. - Gt1;
2. - Gt1I0.
= - (Ct0 - I0).
t, .
- 3.
Aopt -
NPV = (Gt1I0 / 1 + r) - I0
4 ( . )
r = 10 %
r = 8 %
1. .
R 0 = max
R 1 = 0
R 0max = Ct0 - I0 + PV (Gt1 + Gt1I0) = (Ct0 - I0) + ((Gt1 + Gt1I0) / (1 + r))
R 0max = 100 . - 50 . + ((150 . + 100 .) (1 + 0,1)1)= 277272,72 .
2.
R 1 = max
R 0 = 0
R 1max = Gt1 + Gt1I0 + FV (Ct0 - I0) = Gt1 + Gt1I0 + (Ct0 - I0) (1 + r)
R 1max = 150 . + 100 . + (100 . - 50 .) (1 + 0,08) = 304 . .
5 ( . ):
=>
r = r = 10 %
I0 > Ct0
I0 = 150 . .
Ct0 = 100 . .
1.
R 0 = max
R 1 = 0
R 0max = Ct0 - I0 + PV (Gt1 + Gt1I0) = (Ct0 - I0) + ((Gt1 + Gt1I0) / (1 + r))
R 0max = 100 . - 50 . + (150 . + 160 .)/1,1 = 231818,18 .
2.
R 1 = max
R 0 = 0
R 1max = Gt1 + Gt1I0 - FV (I0 - Ct0) = Gt1 + Gt1I0 + (I0 - Ct0) (1 + r)
R 1max = 150 . + 160 . - (150 . - 100 .)*1,1 = 255 . .
|
|
:
1. R 0max = 231818,18 . =>
R 0 = Ct0 = 100 . . =>
∆ R 0 = R 0max - R 0 = 231818,18 . - 100 . . = 131818,18 .
2. R 1max = 255 . . =>
R 1 = Ct0 + Ct1 = 100 . . + 150 . . = 250 . . =>
∆ R 0 = R 1max - R 1 = 255 . - 250 . = 5 . .
:
1. R 0max = 277272,72 . =>
R 0 = Ct0 + PV (Gt1) = Ct0 + Gt1 / (1 + r)
R 0 = 100 . + 150 . / (1 + 0,1) = 236364 . =>
∆ R 0 = R 0max - R 0 = 40908,7 .
2. R 1max = 304 . . =>
R 1 = Gt1 + FV (Ct0) = Gt1 + Ct0 (1 + r)
R 1 = 150 . + 100 . (1 + 0,08) = 258 . . =>
∆ R 1 = R 1max - R 1 = 46 . .
.