涓€銆佺瓑棰濇湰鎭繕娆炬硶鍏紡鎺ㄥ
璁捐捶娆炬湰閲戜负
饾憙
P锛屾湀鍒╃巼涓?
饾憻
r锛岃繕娆炬湀鏁颁负
饾憶
n锛屾瘡鏈堣繕娆鹃涓?
饾惔
A
绗竴涓湀杩樻鍚庯紝鍓╀綑鏈噾
饾憙
1
=
饾憙
(
1
+
饾憻
)
鈭?
饾惔
P
1
鈥?
=P(1+r)鈭扐銆?
绗簩涓湀杩樻鍓嶆湰閲戜负
饾憙
(
1
+
饾憻
)
鈭?
饾惔
P(1+r)鈭扐锛岃繕娆惧悗鍓╀綑鏈噾
饾憙
2
=
(
饾憙
(
1
+
饾憻
)
鈭?
饾惔
)
(
1
+
饾憻
)
鈭?
饾惔
=
饾憙
(
1
+
饾憻
)
2
鈭?
饾惔
(
1
+
饾憻
)
鈭?
饾惔
P
2
鈥?
=(P(1+r)鈭扐)(1+r)鈭扐=P(1+r)
2
鈭扐(1+r)鈭扐銆?
浠ユ绫绘帹锛岀
饾憶
n涓湀杩樻鍚庡墿浣欐湰閲戜负
饾憙
饾憶
=
饾憙
(
1
+
饾憻
)
饾憶
鈭?
饾惔
[
(
1
+
饾憻
)
饾憶
鈭?
1
+
(
1
+
饾憻
)
饾憶
鈭?
2
+
鈰?
+
1
]
P
n
鈥?
=P(1+r)
n
鈭扐[(1+r)
n鈭?
+(1+r)
n鈭?
+鈰?1]銆?
鐢变簬
饾憶
n涓湀鍚庤捶娆捐繕娓咃紝鍗?
饾憙
饾憶
=
0
P
n
鈥?
=0銆?
鏍规嵁绛夋瘮鏁板垪姹傚拰鍏紡
饾憜
饾憶
=
饾憥
(
1
鈭?
饾憺
饾憶
)
1
鈭?
饾憺
S
n
鈥?
=
1鈭抭
a(1鈭抭
n
)
鈥?
锛堣繖閲?
饾憥
=
1
a=1锛?
饾憺
=
(
1
+
饾憻
)
q=(1+r)锛夛紝
[
(
1
+
饾憻
)
饾憶
鈭?
1
+
(
1
+
饾憻
)
饾憶
鈭?
2
+
鈰?
+
1
]
=
(
1
+
饾憻
)
饾憶
鈭?
1
饾憻
[(1+r)
n鈭?
+(1+r)
n鈭?
+鈰?1]=
r
(1+r)
n
鈭?
鈥?
銆?
鎵€浠?
0
=
饾憙
(
1
+
饾憻
)
饾憶
鈭?
饾惔
(
1
+
饾憻
)
饾憶
鈭?
1
饾憻
0=P(1+r)
n
鈭扐
r
(1+r)
n
鈭?
鈥?
锛岀Щ椤瑰彲寰?
饾惔
=
饾憙
脳
饾憻
脳
(
1
+
饾憻
)
饾憶
(
1
+
饾憻
)
饾憶
鈭?
1
A=
(1+r)
n
鈭?
P脳r脳(1+r)
n
鈥?
锛岃繖灏辨槸绛夐鏈伅杩樻娉曟瘡鏈堣繕娆鹃鐨勮绠楀叕寮?
饾惔
=
[
饾憙
脳
饾憻
脳
(
1
+
饾憻
)
饾憶
]
/
[
(
1
+
饾憻
)
饾憶
鈭?
1
]
A=[P脳r脳(1+r)
n
]/[(1+r)
n
鈭?] 1銆?
浜屻€佺瓑棰濇湰閲戣繕娆炬硶鍏紡鎺ㄥ
姣忔湀杩樻鏈噾鍥哄畾
璁捐捶娆炬湰閲戜负
饾憙
P锛岃繕娆炬湀鏁颁负
饾憶
n锛屽垯姣忔湀杩樻鏈噾
=
饾憙
饾憶
=
n
P
鈥?
銆?
鍒╂伅璁＄畻
绗竴涓湀鍒╂伅涓?
饾惣
1
=
饾憙
脳
饾憻
I
1
鈥?
=P脳r锛?
饾憻
r涓烘湀鍒╃巼锛夛紝绗竴涓湀杩樻棰?
饾惔
1
=
饾憙
饾憶
+
饾憙
脳
饾憻
A
1
鈥?
=
n
P
鈥?
+P脳r銆?
绗簩涓湀鏈噾杩樻槸
饾憙
饾憶
n
P
鈥?
锛屼絾鍓╀綑鏈噾涓?
饾憙
鈭?
饾憙
饾憶
P鈭?
n
P
鈥?
锛屾墍浠ョ浜屼釜鏈堝埄鎭?
饾惣
2
=
(
饾憙
鈭?
饾憙
饾憶
)
脳
饾憻
I
2
鈥?
=(P鈭?
n
P
鈥?
)脳r锛岀浜屼釜鏈堣繕娆鹃
饾惔
2
=
饾憙
饾憶
+
(
饾憙
鈭?
饾憙
饾憶
)
脳
饾憻
A
2
鈥?
=
n
P
鈥?
+(P鈭?
n
P
鈥?
)脳r銆?
绗?
饾憵
m涓湀锛?
1
猢?
饾憵
猢?
饾憶
1猢絤猢絥锛夛紝宸插綊杩樻湰閲戠疮璁￠涓?
(
饾憵
鈭?
1
)
脳
饾憙
饾憶
(m鈭?)脳
n
P
鈥?
锛屽墿浣欐湰閲戜负
饾憙
鈭?
(
饾憵
鈭?
1
)
脳
饾憙
饾憶
P鈭?m鈭?)脳
n
P
鈥?
锛屽埄鎭负
[
饾憙
鈭?
(
饾憵
鈭?
1
)
脳
饾憙
饾憶
]
脳
饾憻
[P鈭?m鈭?)脳
n
P
鈥?
]脳r锛屾瘡鏈堣繕娆鹃
饾惔
饾憵
=
饾憙
饾憶
+
[
饾憙
鈭?
(
饾憵
鈭?
1
)
脳
饾憙
饾憶
]
脳
饾憻
A
m
鈥?
=
n
P
鈥?
+[P鈭?m鈭?)脳
n
P
鈥?
]脳r锛屽寲绠€鍚庡緱鍒?
饾惔
饾憵
=
饾憙
饾憶
+
(
饾憙
鈭?
(
饾憵
鈭?
1
)
饾憙
饾憶
)
脳
饾憻
=
饾憙
饾憶
+
(
饾憙
鈭?
饾憵
饾憙
饾憶
+
饾憙
饾憶
)
脳
饾憻
=
饾憙
饾憶
+
(
饾憙
脳
饾憻
鈭?
饾憵
饾憙
脳
饾憻
饾憶
+
饾憙
脳
饾憻
饾憶
)
=
饾憙
饾憶
+
(
饾憙
脳
饾憻
鈭?
(
饾憵
鈭?
1
)
饾憙
脳
饾憻
饾憶
)
A
m
鈥?
=
n
P
鈥?
+(P鈭?
n
(m鈭?)P
鈥?
)脳r=
n
P
鈥?
+(P鈭?
n
mP
鈥?
+
n
P
鈥?
)脳r=
n
P
鈥?
+(P脳r鈭?
n
mP脳r
鈥?
+
n
P脳r
鈥?
)=
n
P
鈥?
+(P脳r鈭?
n
(m鈭?)P脳r
鈥?
)锛屼篃灏辨槸
饾惔
饾憵
=
饾憙
饾憶
+
(
饾憙
鈭?
(
饾憵
鈭?
1
)
饾憙
饾憶
)
脳
饾憻
A
m
鈥?
=
n
P
鈥?
+(P鈭?
n
(m鈭?)P
鈥?
)脳r锛岃繖灏辨槸绛夐鏈噾杩樻娉曟瘡鏈堣繕娆鹃鐨勮绠楀叕寮忥紝鍏朵腑姣忔湀杩樻鏈噾鍥哄畾涓?
饾憙
饾憶
n
P
鈥?
锛屽埄鎭殢鐫€宸茶繕鏈噾鐨勫鍔犺€岄€愭湀閫掑噺1銆?