752                                                     22



       ,  
,   ,  .   $1000 
     ,    
  (NAV)        $10.

       ,   NAV, 
 D       20%,     $8 ($10  0,80). 
 ,  2%       . -
  ./V  ,   L    8'/,%.
      ?

  :    == $10 + $0,20  = $10,20;

  = $1000/$ 10,20 = 98,04.
  D'.    = $8 + $0,16  = $8,16;

  = $1000/$8,16 = 122,55.
  ./V:    = $10;

  = $1000/$10 = 100.
  L:    = $10 + $0,93  = $10,93;

(: 8,5%  $10,93 = $0,93);

  = $1000/$10,93 = 91,50.

 ,         
 D.    ,        -
     L.

 

        -
  (    ).  -
   ,       , 
  ;  ,      -
 .         
 ;       .
    ,   -
        .
    ,    -
      .

          ,
      .   -
 ,         
(   )     , , 
  ,    .  -
         -
.           0,25 
1%    .   ,  ,   
            
.    .     
    ,        
    .

  (bond funds)       -
 .        
 .    ,   -