ACCA FM/F9 年金

落败的青春阳落s

这篇讲年金

一、年金的概念
An annuity is a series of equal cash flows

for a specified number of periods
年金是一系列在指定期限内相等的现金流。

二、年金的类型
1、Compound annuity 复利年金/普通年金/后付年金
2. Annuity due 预付年金
3. Deferred annuity递延年金
4. perpetuity永续年金

三、年金的计算

Compound Annuity( Ordinary Annuities)后付年金
Payment at the end of each period

PV=annuity X annuity discount factor

Annuity Due先付年金
Payments are made at beginning of each period

PV= annuity X (annuity discount factor+ 1)

3. Deferred Annuity延期年金

Payments will not begin until a specific time in the future

PV=annuity X annuity discount factor X PV discount factor

PV=annuity X(factor 1-factor 2)

4. Perpetuity永续年金

The cash flow continues forever. it has an infinite life

P= annuity/r

               
作者：正在努力学习的阿月