The Mark of Zorro >>阅读更多

    学了两年CFA 看人越来越准了 文/佐罗和玫瑰 Formula for the Present Value of a Perpetual Bond Present value = D/r Where: D= periodic coupon payment of the bond r= discount rate applied to the bond For example, if a perpetual bond pays $10,000 per year in perpetuity and the discount rate is assumed to be 4%, the present value would be: Present value = $10,000 /0.04 = $250,000 Note that the present value of a perpetual bond is highly sensitive to the discount rate assumed since the payment is known as fact. For example, payment is known as fact. For example, using the above example with 3%, 4%, 5% and 6% discount rates, the present values are: Present value (3%) = $10,000/0.03 = $333,333 Present value (4%) = $10,000/0.04= $250,000 Present value (5%) = $10,000/0.05 = $200,000 >>阅读更多