净现值（net present value)问题

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收藏 2013-05-15

  想请教一个净现值的问题：
  再计算净现值的时候，一年内未来报酬总现值算出来不就是初始投资额吗（C0）？
  举个例子：利率为百分之五的情况下，10000￥的净现值为10000/1.05=9523.81￥。9523.81￥不就是C0 （初始投资额吗）
  这样的话用公式NPV=-COST+PV=-9523.81+9523.81=0吗？
  所以净现值为零？

  求助

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eddiechen

2013-5-15 14:31:01

No, you got the wrong idea.

It would be easy to understand if an example is given.

If the cost of the project is $1000, you expect the project will generate $1200 one year later. Assume the discount rate is 5%.

NPV = -1000 + 1200/1.05
(-ve means outflow of cash, +ve, inflow)

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999280530

2013-5-16 00:13:05

eddiechen 发表于 2013-5-15 14:31
No, you got the wrong idea.

It would be easy to understand if an example is given.

Thanks for your answer. However, I don't understand why you make 1200*1.05. Does it mean PV? In one period case, the formula for PV is PV= C1/1+r. Should it be 1200/(1+5%)?