(NPV) - , . NPV , . NPV ³ 0.
NPV = ( ) , ( ) , .
NPV = PVPr |PVI |, (16.1)
PVPr () , , .$;
PVI () , , .$
:
, (16.2)
i ;
, ;
rti (Profit);
Ii (Investment);
( ).
.16.1. NPV. 1000$ (Present Value Investment), 5000$ (Future Value Profit). , 5000$ , 2500$ % . , 2500$-1000$ (NPV=PVPr-PVI), .. 1000$, , 2500$ .
.16.1. NPV
(RIRR) - . , RIRR³ .
RIRR , .
RIRR .
, ( ) . RIRR , .
, (16.3)
FVPr , , .$.
α() (- 15.3).
() FVP = PVI/ α().
% . % . 2 , 3-5 , . , % 7 . % .
|
|
|
(IRR) - .
.. .
IRR .
IRR . - .
, () , . . .
IRR . IRR , , . .16.1. , 3240$, 2250$ 20% 2 . % 30%, 3240$ . 40% . .., , , 1000$ , 3240$ 2 . IRR. (.. NPV=0), .. .
IRR ³ .
: .
IRR* ≈ 2RIRR Ek (16.4)
( ) ( ) , ( ) , . =0 , ,
. (16.5)
IRR NPV IRR NPV. 0, IRR 1-2% ( ). NPV .
NPV IRR 1-2%. NPV .
(Pix - Profitability Index) . ( , , .)
, , .
, PIx ³ 1.
2 . . .
, (16.6)
FVPr ( ) .
|
|
|
PIx , ( ).
Pix % , . =PIV/*100%
() .
( ) () , .
, , , .
.
, (16.7)
16.1. . 2 .
. . . .
. ( - +). .
.
( ) ( - Pay Back Period) , .
£ .
, .. .
. (16.8)
. PBP 2 .
. . . PBP .
. ( - +). PBP.
PBP .
