                                            715

,  13  1993 .       1994 .  
90-    3,52%.  13  1993 .  
90-       
 3,06%,          
.

         -
 (,  90-  ),  (, 
10-  )    (,  20- -
 ).        
.      ( )   -
 17.

 

         
   ,   (21.4).   -
     90-    -
   .    ,   
   90-     
.         90- -
          . -
    ?

,       -
  $95,24,        5% ($0,476/$95,24). (-
           .)   
 ,          
    3%.  ,     
   90-      
   ,  $98,10 ($95,24  1,03). ,   
   $97,      1,85%    
   $95,24.   3%,     -
,         
  .

       $98,10,     -
         $95,24 
 $100        $95,24   
    3%     $98,10   -
  90-  ,    $100. 
     $98,10 (, $99),    -
   ,  $95,24 (,    
 $96,12 ($99/1,03)),        3%
         $99.   
     ,     ,
        $95,24,  
       3%    
    .     -
 $98,10,    ,     -
 .

     .       -
  /,      (21.2),   () 
 (      .    R -
    ,     ,  -
  :

^=^(1+).                                   (21.9)