1、0COCItp0tt 1现正值的年份数累计净现金流量开始出Pt 当年的净现金流量的绝对值上年净现金流量累计值 ctPP RIPt 年52001000RIPt tP 0i1COCItcP0ttt 1 1始始出出现现正正值值的的年年份份数数净净现现金金流流量量折折现现累累计计开开P P t t值值当当年年净净现现金金流流量量的的折折现现累累计计值值的的绝绝对对值值上上年年净净现现金金流流量量折折 现nPt cCti1lnRIi1lnP ccti1lnRIi1lnP 10%1ln20010%10001ln tn0tctci1COCIiNPV 0iNPVc 0In,iP/A,RiNPVcc 10%10
2、%1110%100100010%NPV1010 2 n,iA/P,iNPViNAVccc 0iNAVc n,iA/P,IRiNAVc0c 0IRR1COCIIRRNPVtn0tt ciIRR 211121NPVNPVNPVrrrIRR 0IRRIRR11IRR1001000IRRNPV1010 2 5IRRIRR11IRR11010 15%20%15%IRR4.19255.018855.0188 5%4.19255.018855.018815%IRR pcIiNPVNPVR 0NPVR *I3RIPt 380170 23*10%115010%1100I 5010%130 30.11ln800.
3、1231.61lnPt 20.11300.1115010010%NPV 0.10.1110.11800.11501293 2IRR130IRR1150100IRRNPV 0IRRIRR11IRR180IRR1501293 20%)(25%33.350211.387311.387320%IRR 1IRRPt RIPt 0IRRIRR11IRR1RIIRRNPVnn IRRIRR11IRR1RInn IRRIRR11IRR1Pnnt nntIRR11IRR1IRRP nIRR111 nIRR1 0IRR11n 1IRRPt IRRIRR11IRR1AIRR1IRR1IMAMIPMNMNMt MMPAIt 1IRR1IRR11IRR1AIMMNMN M-NNMNtIRR1IRR11IRR1MMP MIRR1IRR11IRR1MPM-NNMNt tcPi1ANPV Iii11i1ANPVIn,i ,APANPVcncncc Ii11i1iANPVncncc 1i11i1ncncnlim IiANPVc AIi1AcAIPt tcPi1ANPV
