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( ) . (i) , . , , , . . , . , MPV.

. .

    , 10% . , 1 . 1,1 , . , 5% , 1,1 ., .

    1,1 1,05 = 1,155 .

    , , 10%- , , .

    1,10 1,05 = 1,155.

, , (r), () ( ):

1 + = (1 + r)(1 + i).

.

1 + = (1 + r)(1 + i) = 1 + r + i + ri.

,

= r + i.

    : 5 .; 3 ; ( . .): 2000, 2000, 2500: ( ) 9,5%; 5%.

    , , NPV = 399 . . , . . ( = 15%, 1,095 1,05 = 1,15), , NPV = -105 . ., IRR = 13,8%. , , : = 14,5%, NPV = -62,3 . .

 

 

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