                        ^           123

, ,      
       ,     
 $70,      $1070.       
? ,      $70  $1070. 
 ?   $70  $1070     -
  .   : ($70  0,9346) + ($1070 
 0,8573) = $982,73.

    ,     
      .  
    (present value) :

PV=

-^" (5.13)

 (^ -       /, t = \,...,,  ^ - 
 .

 ,     -   -
.       - ( -
  ). ,      ,
   7%- -   8%- -. -
      .

 

     -  7%.  , 
    $1,     
   $1/1,07 = $0,9346.  ,    
         
    7%.   8%- - -
  $1,      ,   $1/1,08 = $0,8573.

    $1,    , 
  .       -
  ,     .  , $1,   
,      $!/(! + /, ^).     
          -
 7%.  ,   :

$1/(1+/1.)
(1+0,07)

     $0,8573,      
-    ,    , -
 $0,8573.     :

^)=$.8573.

  /, ^ == 9,01%.