商业财务公式

时间:2023-01-12 05:47:14 阅读: 最新文章 文档下载
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Formula

PV with simple interest PV = FV / (1 + i·n) or PV = FV (1 + i· n)-1 FV with simple interest FV = PV (1 + i · n) Simple Interest INT = PV ·i ·n

Future Value FV = PV(1 + i)n Present Value PV = FV(1 + i)-n

Effective interest rate EAR = (1 + i/m)m -1 Annuity Future Value FV = C{[(1 + i)n - 1] / i} Annuity Present Value PV = C{[1 - (1 + i)-n] / i} Perpetuity PV = C / i

Dividends, no growth P0 = D/ r Dividends, constant growth P0 = D1 / (r - g)

Bond Pricing Formula: PV = C [ 1 (1 + i)-n ] + FV(1 +i)-n

i



Net Present Value NPV = PV of future cash flows less Cost of investment _ _

Historical standard deviation = √ Σ [ ( Ri - R)2 + ....(Rn R)2 ] / (n-1)

Percentage return = (ending balance - opening balance + income) / opening balance Expected return on portfolio of two assets E(RP) = WAE(RA) + WBE(RB) Expected return on a portfolio E(RP) = Wi E(Ri)

Portfolio Beta Pwii Capital Asset Pricing Model E(R) = RF + (RM - RF)

EPS = {(EBIT - I)(1 - tc)} / S

WACC = RD(1 - Tc) D / V + RE E / V + Rp (P/V)

Cost of debt, if perpetual: Rd = INT/D Cost of Preference shares: Rp = Div / P0

V = D + E + P

MM (without taxes): VL=VU

MM(without taxes): RSR0B(R0RB)

SL

MM (with taxes): VL = VU + TC B

MM(with taxes): RSR0B(1TC)(R0RB)

SL


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