Casel 本金100元,投资5年,年利率8%, 每季度复利一次,问5年后终值是多少? 方法一:每季度利率=8%÷4=2% 复利的次数=5×4=20 F=1000×(F/P,2%,20) =1000×1486=1486
本金1000元，投资5年，年利率8%， 每季度复利一次，问5年后终值是多少？ 方法一：每季度利率＝8%÷4＝2% 复利的次数＝5×4＝20 F=1000×（F/P，2%，20） =1000×1.486=1486 Case1
方法二:i=(1+r/MM-1 i=(1+8%/44)-1=8.24% F=1000×(F/P,8.24%,4) 1000×1486=1486 练一练:例3-24,3-25(p56)
方法二：i=(1+r/M)M-1 i=（1+8%/4）-1=8.24% F=1000× （F/P，8.24%，4） =1000 ×1.486=1486 练一练：例3-24，3-25(p56)
年金( annuity) (一)概念:年金是指等期、定额的系列 收支 a stream or series of equal payments to be received in the future The payments are assumed to be received at the end of each period a good example of an annuity is a lottery, where the winner is paid over a number of years 二)分类: 1、普通年金2、即付年金 3、递延年金4、永续年金
年金（annuity） （一）概念：年金是指等期、定额的系列 收支. – a stream or series of equal payments to be received in the future The payments are assumed to be received at the end of each period. A good example of an annuity is a lottery, where the winner is paid over a number of years. （二）分类： 1、普通年金2、即付年金 3、递延年金4、永续年金
普通年金—各期期末收付的年金。 年金终值 0-1-2 n-2 n AA A(1+i) A(1+1) A(1+1 A(1+1)n A(1+i)
•普通年金——各期期末收付的年金。 0 1 2 n-2 n-1 n A A A A A A(1+i)0 A(1+i)1 A(1+i)n-1 A(1+i)n-2 F •年金终值 A(1+i)2
FA=A(1+i)叶A(1+i)+…+A(1+i)2+ A(+i)2+A(+i)n1 (1+)2-1 FVA2=A· (1+)2-1 其中 为年金终值系数,记为 (F/A,i, n)
FA=A(1+i)0+ A(1+i)1+ …+ A(1+i) 2+ A(1+i)n-2 +A(1+i)n-1 其中 为年金终值系数，记为 (F/A, i , n)