1. Trang chủ
  2. » Tài Chính - Ngân Hàng

Reading 07 discounted cash flow applications questions and answers

55 33 0

Đang tải... (xem toàn văn)

Tài liệu hạn chế xem trước, để xem đầy đủ mời bạn chọn Tải xuống

THÔNG TIN TÀI LIỆU

Thông tin cơ bản

Định dạng
Số trang 55
Dung lượng 2,36 MB

Các công cụ chuyển đổi và chỉnh sửa cho tài liệu này

Nội dung

Trang 1

a(ÿe=("=GEÿ.Cÿe'(=%<=(ÿK''Dÿ&(@#$%$ÿAOBCBBBJÿ6%ÿ<#ÿ#(Dÿ'>ÿf=G?<Cÿ<&$ÿ&(@#$%F#(%ÿ$ÿ;'G%<ÿAO.CBBBJÿa(ÿ6RG&.CÿK''DÿD#R'$&%A.BCBBBÿ&(%'ÿ<&$ÿ=??'"(%C=(Dÿ9Eÿ%<#ÿ#(Dÿ'>ÿe"(#Cÿ<&$ÿ=??'"(%ÿ$ÿ;'G%<ÿA5BCBBBJÿK''Dÿ;&%<DG=;$ÿAUBCBBBÿ'(ÿe":Eÿ.ÿ=(DÿF=L#$('ÿ=DD&%'(=:ÿD#R'$&%$ÿ'Gÿ;&%<DG=;=:$ÿ%<#ÿG#$%ÿ'>ÿ<#ÿE#=GJgEÿ%<#ÿ#(Dÿ'>ÿ<#ÿE#=GC<&$ÿ=??'"(%ÿ$ÿ;'G%<ÿAUUCBBBJÿ7<#ÿ%F#8

e=("=GEÿ8f=G?<ÿG#%"G(ÿVÿO.CBBBÿXOBCBBBÿoÿ.ÿVÿ/JBBNÿ

6RG&8e"(#ÿG#%"G(ÿVÿ5BCBBBÿXO.CBBBÿpÿ.BCBBBYÿoÿ.ÿVÿ8.J5-Nÿ

e":Eÿ8+#?#F9#Gÿ#%"G(ÿVÿUUCBBBÿX5BCBBBÿoÿUBCBBBYÿoÿ.ÿVÿ.BJBBNÿ

7&F#8;#&H<%#DÿG#%"G(ÿVÿq.ÿpÿBJB/YW.ÿoÿBJB.5-YW.ÿpÿBJ.BYroÿ.ÿVÿBJ.BU5ÿ'Gÿ.BJU5N

Trang 2

e`acfgc`hibcjÿ]cbl]mÿFÿG@ÿnÿ@ÿoÿHÿÿFÿ@<dÿ'ÿnÿÿoÿ@Hÿ@ÿFÿ;8;'<dÿ8@HG8;;'Hq ÿoÿÿFÿ8&<

r^mcsfgc`hibcjÿ]cbl]mÿÿnÿp@ÿIÿnÿ**HqFÿp@ÿIÿnÿ**Hqnÿp&ÿIÿnÿ**Hqd92ÿ**ÿFÿ, *C9,42ÿ8<tÿ+,ÿ+ÿ,ÿ=,2ÿÿ4)ÿ5*ÿ+ÿ92E=:+0ÿ**ÿÿÿÿ.ÿ+ÿu,ÿ,0ÿvT1wÿ57ÿ4x2ÿU73y2Lÿzx65z23ÿ

50ÿ+ÿ0/ÿ,ÿ+,ÿ9,>ÿ5=ÿu,4ÿÿ54=8

{:ÿ+ÿ5,/,4ÿ/,4/4,*ÿÿ/,4/4,ÿ+ÿ92E=:+0ÿ**ÿ1+ÿ544=:ÿ>2*>ÿ,9ÿ+,ÿ+ÿ5,/,499*2ÿ*:*ÿ,*ÿ/4,*0ÿ5ÿ.**ÿ=*>8H

Trang 6

LÿK?ÿM*ÿ(78N*?ÿ'*8)IÿÿI*7ÿ*@ÿ67ÿOP.ÿ*?ÿM*ÿ)?ÿ?*Iÿ67ÿOQ..0ÿ7@ÿNÿI*7QNÿK?ÿR*?ÿMÿRS

**)ÿ8(ÿ(*IRÿ6ÿOT.0ÿUN*ÿÿNÿN)?@ÿ(7?ÿ77V

HIÿJ8(ÿKIÿAB=

Z7*?*ÿJ7RM))J[LQÿKIÿ\Q ÿM7Nÿ6ÿ=RNÿ]ÿ^ÿXAJÿN*7ÿ*ÿNÿK@@ÿ6ÿ*8NÿI*7ÿ7ÿ7ÿI*7ÿ*ÿ(78ÿ6

\ Qÿ\.Qÿ\.ÿ*?ÿ\T.ÿ7(8_)I0ÿLÿNÿ?ÿ6ÿNÿ67NÿI*7ÿNÿ(78ÿ6ÿ=RNÿ]ÿ^ÿXAJÿÿ\.0ÿ`NÿN*7ÿ?ÿ(*Iÿ*ÿ?_??0ÿJ7RM))8*)8)*ÿN7ÿ*_7*@ÿ8ÿ(7ÿN*7ÿ*ÿa\ ÿ/ÿ\.ÿ/ÿ\.ÿ/ÿ\T.1ÿbÿ3ÿ\0ÿJ7RM))N

ÿNÿ@R78ÿR*ÿ6ÿ**)ÿN)?@ÿ(7?ÿ77ÿÿ88)?ÿN*ÿN7ÿRSM@N?ÿ**)ÿ*ÿ6ÿ7ÿÿ040ÿW*J7RM))8778)Iÿ?7R?ÿN7ÿ*_7*@ÿ8ÿ(7ÿN*7ÿ*?ÿRSM@N?ÿ7*ÿ6ÿ7V

Trang 7

DAD

Trang 8

0+7W,Q&ÿh\iÿ+-Qÿ-ÿ5W55ÿ1ÿRX&==ÿ-ÿ/ÿ5ÿ1ÿ-7/ÿQ-0&JÿQ-0ÿ-10ÿ/ÿ,-ÿ+07/-ÿ/ÿ,,ÿ-,,/ÿh\i

/-0ÿ-ÿRX&ÿg-7cfÿ7-,7,-ÿ/ÿ-W0-6ÿ7ÿ+0ÿ/-0ÿ-ÿ3RX=ÿ?ÿRXÿ?ÿRXAÿ?ÿRX@9ÿ;ÿ>ÿRX&A=&ÿg-7cf

/ÿÿ/ÿ0-,ÿ-ÿ1ÿ0ÿ7/2ÿÿ7-,7,-ÿ/-ÿ/ÿZQUV6/5ÿ--,ÿ-ÿ1ÿ0ÿÿ&[(&ÿk-

Trang 9

@ABC DEFGHIJCKLIMC NAOAPCQP RCSÿGIJHÿUVW

& >8&&& & >8&&&

 >8&& X&& >8&&

 >8Y&& X&& >8Z&&

Z >8Z&& XZ&& >8&&&

 &&ÿ[ÿÿ\ÿXY8&& X&& X8&&&

]^&ÿ\ÿ_8&&&`ÿ]^ÿ\ÿ_8&&`ÿ]^ÿ\ÿ_8Z&&`ÿ]^Zÿ\ÿ_8&&&`ÿ]^ÿ\ÿ8&&&`ÿ]a?ÿbÿccÿ\ÿ;%Y;

Trang 13

.?ÿ-3.ÿ'ÿ6ÿ7]ÿ832ÿ3ÿN(A))ÿ8.ÿ63.ÿ2@22Aÿÿ-3.ÿ5'ÿ6ÿ7]ÿ832ÿ3ÿNUA()ÿ8.ÿ63.ÿ2@22A

Trang 14

Lÿ Mÿ N(&' OOÿ PRÿ  Q < R/  ÿ ÿ 1Sÿ  1Tÿ -< 12/U

VLW ÿ ÿ Mÿ P (&ÿ Xÿ &Oÿ Yÿ &U ÿ &Oÿ Mÿ O' %O[ ÿ < ÿ %O)

KDG ;4 F9ÿ >6C 4 D;ÿ \A ÿ Lÿ Mÿ N(&' OO

 ÿ Mÿ N(' &O

Lÿ Mÿ N"OO' OO

VLW ÿ ÿ Mÿ P "OOÿ Xÿ (&ÿ Yÿ (' &OU ÿ (&ÿ Mÿ O' !**[ ÿ < ÿ !*' *)'

=36>ÿ\Aÿ]E6ÿ3:6ÿ96D563CHÿ56BFÿ3DÿHBGHIGB36ÿ3:6ÿC63ICFÿDJ6Cÿ^D3:ÿ>6C4D;E

W < ÿ Mÿ _ "ÿ Yÿ VLW U ÿ `ÿ P "ÿ Yÿ VLW U aÿ Xÿ "ÿ Mÿ _ "' %OU ÿ `ÿ P "' !**U aÿ Xÿ "ÿ Mÿ O' &"!#[ ÿ < ÿ bc dec

Trang 16

088:ÿC)D8ÿEÿ48&ÿÿÿ:)ÿ<&'ÿÿ525)ÿ5&ÿ5&ÿ9ÿC)D8ÿ06

088:ÿ45ÿ:)D8ÿ48&ÿ5Fÿ45ÿ5&<ÿ:<ÿÿ:)ÿ<&'6

088:ÿC)D8ÿ0ÿ48&ÿÿ)&'ÿ&ÿ9ÿ)ÿÿ525)ÿ5&ÿ5&ÿ9ÿC)D8ÿE6

GH:'&&

I5ÿÿ:)ÿ<&'ÿJKCLMÿ&=ÿ)&'ÿ&ÿ9ÿ)ÿJNNMÿ2<ÿ89'82ÿ:)D8ÿ&O2-ÿKCLÿÿ5ÿ1ÿ&::):)&15=ÿ9)ÿ=8=2ÿ4;ÿ1&''FÿH8'<ÿ:)D86ÿP)-ÿ5ÿKCLÿ9ÿ:)D8ÿ0ÿÿ+Q-/!"ÿ&=ÿ5ÿKCLÿ9ÿC)D8ÿEÿ+Q-Q$$6ÿE5ÿKCLÿ&)ÿ:<-ÿÿ3&'&4&5ÿ5'=ÿ'8ÿ5ÿC)D8ÿEÿ48&ÿ9ÿÿ525)ÿKCL6

N9)8

RS TUÿVÿ#ÿWÿN&=2ÿXÿWÿYZVÿ&

[8\8^ÿ 8S ]\U

`Fÿ38:ÿ4FÿYZV

0ÿ<)ÿ'=ÿ&ÿ/,*F&)ÿ4=ÿ&ÿ&ÿ:)8ÿ9ÿ+$%,ÿ&9)ÿ5ÿ:)85&=ÿ&ÿ+$,,ÿ&ÿF&)ÿ&26ÿPÿ)8<=ÿ+%,ÿ9ÿ)ÿ&ÿ5

1ÿ9ÿ5ÿ&'6ÿa5ÿ&&'b=ÿ5'=2ÿ:)=ÿ))ÿ

Trang 17

@0ÿ22*3ÿ))-ÿ<-;ÿHGAjKÿÿ=);ÿÿ)ÿFiD;)<ÿ<)/ÿ);ÿ)**ÿ2/ÿ*8.;ÿ/6GAjÿMÿHÿIÿ0-;:ÿ./;

<-;K ÿOÿ6ÿ@0ÿ0-;:ÿ./;ÿ<;ÿ2/8-)ÿÿH./*ÿ/*3;ÿ)ÿ8)/<ÿOÿ)-ÿ./*ÿIÿ/ÿ.)<8KÿH)-ÿ./*Kÿ

H59555ÿOÿ955ÿIÿ5KÿH955KÿMÿ65B6ÿGAjÿMÿH655K ÿOÿÿMÿ6i5B6

Trang 18

)<))EOÿP9);Q:<

Q<:EOÿP9;Q)<

<''EOÿ9));QQ<

R85/--

JJÿS627ÿ4TÿUÿ>9:;:::Oÿ4TÿUÿ9);:::OÿTÿUÿOÿ4TÿUÿ9:;:::OÿTÿUÿOÿ4TÿUÿ9:;:::OÿTÿUÿ<

=LMÿS627ÿ4TÿUÿ>9:;:::Oÿ4TÿUÿ9);:::OÿTÿUÿOÿ4TÿUÿ9:;:::OÿTÿUÿOÿ4TÿUÿ9:;:::OÿTÿUÿ<

Trang 22

E3h   E3 3h E3

Trang 23

P(ÿ-ÿ.24+ÿ(-ÿ-ÿ.<ÿ9ST0ÿÿ7/-,,ÿÿ(-2(/,2ÿ7-/(ÿ5+-ÿ(ÿ.24+ÿÿ-2:ÿ12ÿ(-ÿ(ÿ 2+ÿ'ÿ+-.-/ÿ,,ÿÿ,2-Qÿ(ÿ.24+8'-ÿ'1ÿ-Qÿÿ-ÿ?269STÿ.24+0(ÿ'1ÿ7/-2ÿ*-+/3ÿ:(ÿÿ+<2

(ÿ 23ÿ+ÿ'ÿ+-.-/8^(ÿ'1ÿ7/+2-ÿÿ?ÿ53ÿ-Q:ÿ(ÿ.24+05ÿ(-2(/,2ÿ7-/(ÿ7/ÿ+(-:8)'2+

01234567ÿ@A6BCÿDÿÿEÿ)-,:ÿFÿEÿGHDÿ5

Trang 24

STOÿÿTÿUVW+T*ÿ->ÿ:ÿ-ÿTÿQ-: *ÿUT*ÿ:ÿQ-:-U>;ÿU>-UX

YUVW+T*ÿ--ÿ>-ÿÿ:);*ÿROÿTÿU+ÿ:ÿ;>Tÿ:W0

YUÿW+T*ÿ>))Wÿ:-ÿ-VQ-*ÿU>-Uÿ>*ÿT-:-ÿÿU-ÿ:ZR)ÿ

*-U+ÿZ>;)OÿTWÿ>ÿQ-)ÿQ-:-U*ÿ*-+ÿ>ÿQ;:;ÿ-<>)ÿ:ÿU0

YT-ÿÿÿQ-:-;ÿ:-ÿUVW+T*ÿ<-ÿUOVW+T*0

NOÿP;QÿROÿGHE

=ÿY->-OÿR)ÿWTÿ'ÿ*>OÿU>-O\ÿT>ÿ>ÿ::;<ÿ>>)ÿO)*ÿ:ÿ20ÿÿT)*+ÿQ-*ÿO*ÿÿ]^_`a`bÿ

Trang 27

\ÿfEEÿgÿ'X^ÿ0EEEhÿiÿÿ

Trang 29

%+'(Q+) ÿ%5(+ÿ25ÿOÿ17"89,1"ÿL1HI.ÿOÿI7!I1897

&-R+F'5ÿOÿCIIÿMÿI7!I18ÿOÿ$$7P$H"97

STUÿOÿ,CIIÿL$$7P$H".ÿMÿCÿOÿI7!I!"97

VVWÿOÿI7!I!"9ÿJÿ,1HIÿL1".ÿOÿ17"1P97

Trang 30

<5,A<,5J1A<5,A<5,Aÿÿ-ÿ)5165

Trang 34

d&hf  6 d&hf 8

Trang 35

:'ÿ.(ÿ3)+ÿ5ÿ'ÿ;((ÿ)ÿÿ,6-#&<$$1=#&ÿ>'+ÿ'ÿ.(ÿ3)+ÿ5ÿ'ÿ+)ÿ?4ÿ55(*ÿÿ, 67&!<<167@ÿ

)34ÿ5ÿ 7&6#71ÿA+()3+/&ÿ'ÿ.(ÿ3)+ÿ5ÿ'ÿ9()ÿ, -& -ÿ)ÿ'ÿ?44ÿ5ÿ);'ÿ5ÿ'ÿ9ÿ ÿ/)(ÿÿ,!"7&6#7

"#16-g1

" 1 g1

=!1"6g1

Trang 36

5ÿÿ77 ÿ ÿ 5ÿ 5575ÿ2 79ÿÿÿÿÿÿÿÿÿ ÿÿÿ!

$%&'()*+ÿ-.*/0ÿ 85ÿÿ2ÿ 5ÿ3ÿ2ÿ451ÿ6&78(&9ÿ:8(&.)870

#ÿ<ÿ451

Trang 37

8(ÿ&(B#$%'Hÿ;"F$ÿ?ÿ$>?H#ÿ'@ÿ$%'ALÿ@'HÿC/55J55ÿ?%ÿG#ÿ%^ÿ5Jÿ8%ÿG#ÿ%^ÿ.Dÿ>#ÿ&(B#$%'Hÿ;"F$ÿ?(ÿ?EE&%'(?<ÿ$>?H#ÿ@'HÿC//OJ55Jÿ8%

%G#ÿ%^ÿ/ÿ%>#ÿ&(B#$%'Hÿ$#<<$ÿ;'%>ÿ$>?H#$ÿ@'HÿC/TOJ55Jÿ+"H&(Iÿ;'%>ÿF#?H$Dÿ>#ÿ$%'ALÿS?&Eÿ?ÿS#Hÿ$>?H#ÿE&B&E#(Eÿ'@ÿCOJ55JÿK>?%ÿ?H#

%>#ÿ_``aXbcd_[Zÿ%G#:=#&I>%#Eÿ?(EÿG'(#F:=#&I>%#EÿH#%"H($ÿH#$S#A%&B#<FM

.5J0Neÿ4J-NJ

7J7Neÿ7J7NJ

4J5Neÿ.OJ5NJ

Trang 38

RS GT IEJU VWIHJ XIVJ ÿ YJ ÿ Zÿ [\YH]ÿ ^F G_ÿ YJ ÿ Zÿ ` U aa bRcÿ dÿ ef gh

) 7%; %%% 7; &%% &9 %% 7&%

Trang 39

@"G@

(@&G@

@"G@

Dÿ<:ÿ.4ÿ65+*4:ÿO4+-8ÿÿ845ÿ4/ÿ,5ÿM!"ÿ4:ÿ.4ÿ-:ÿ:48ÿ,5ÿM?" "@ÿ5/ÿ*ÿ845?*ÿ<:ÿ74:ÿ.ÿ7944-ÿ+6ÿ6487ÿ,ÿM#"@ÿ)*4ÿÿ*ÿ*-:/ÿ65:ÿ55;

 @G@

N@"G@

%@(G@

K54:4ÿP57. PQD?ÿ<8ÿR ?"""ÿ.5*ÿ,ÿS7*ÿTÿUÿIVPÿ*45ÿ4ÿ*ÿ<//ÿ,ÿ4+*ÿ845ÿ5ÿ5ÿ845ÿ4ÿ65+ÿ,R""?ÿR "?ÿR&"ÿ4:ÿR#"ÿ56+>-8@ÿDÿ*ÿ:ÿ,ÿ*ÿ,5*ÿ845ÿ*ÿ65+ÿ,ÿS7*ÿTÿUÿIVPÿÿR"@ÿA*ÿ*45ÿ:ÿ648ÿ4ÿ:>::@ÿP57. +4-+-4ÿ*5ÿ4>54/ÿ+ÿ65ÿ*45ÿ4ÿWR""ÿXÿR "ÿXÿR&"ÿXÿR#"FÿZÿ[ÿR &@ÿP57. *

Trang 40

4L$54

4N#54

Trang 41

3ÿÿ3ÿ(*@ÿ*ÿ4ÿ(ÿ+3Kÿÿ+*@+@*ÿ3*ÿ3ÿL2M9C3=ÿ**@ÿ*ÿ4ÿ(ÿÿA#NAÿO*

<A<NTÿ<A<#NA

Trang 42

@* ; 8 ÿ  ÿ ?@Aÿ Eÿ F'GH ÿ DDÿ Eÿ $I

@* ; 8 ÿ  ÿ ?@Aÿ Eÿ F/ GGGH ÿ DDÿ Eÿ %I

Trang 45

<7<<=XÿY4<B%-7

%7-=XÿY4"&B%<"7

&7##=Xÿ4<<B%%7

Trang 46

)XG

 XG

XG

W0ÿ-.1./ÿO,JJÿ,+-+ÿ8ÿY+ÿS.8.-+Jÿÿ2./.Jÿ.ÿ/.+ÿI.JJÿ1+9-ÿ<0ÿ0ÿ8//<Jÿ-0.+.-+-ZQ&):)))

)G&XG

G'XG

Trang 51

&4 '@4

A4!#@4

(ÿ:*.*,ÿ+9C:=+9ÿ8-ÿ$"ÿ5.,ÿ6.*,ÿ-.ÿ.ÿ+.1ÿ50ÿ,95ÿ/ÿ$4"!@4ÿ;-0-ÿ/ÿ-ÿ/998>ÿÿEFGHIHJÿÿ-6,ÿ6.*1ÿ,95ÿÿ-ÿ:=+9

$4"&@4

$4"@4

$4" @4

(ÿ)*ÿ.*5ÿ-ÿ,.*ÿ8-ÿ.ÿ2 3B333ÿ7*94ÿKÿ6.5ÿ.ÿ2 B333ÿ0*+ÿ.ÿ-ÿ5ÿ/ÿ-ÿ/ÿL.**B.ÿ2!B3338-5*.8.9ÿ.ÿ-ÿ5ÿ/ÿ-ÿ-*5ÿL.**B.5ÿ55ÿ-ÿ,.*ÿ8-ÿ.ÿ7*9ÿ).9ÿ/ÿ2 3B##$4ÿ:-ÿL.**9,ÿ-95>ÿ7*5

Trang 55

5//;5

<51;5

Ngày đăng: 16/10/2021, 14:32

TỪ KHÓA LIÊN QUAN