FV=PV*FVIF k,n +PMT * FVIFA k,n

PMT knPV

()4%168
()15%
49
()28%
10 1


FV=PV*FVIFk,n +PMT * FVIFAk,n
(1)FVEX20

(2)PV

(3)PMT(
120)
(4)kFVIFAk,n
k

(5)nFVIFAk,n
2

(6)kn(FVIFAk,n)

()(
)


() PMT
1.(
)

2.

3.

() K

1.(2%-3%)

19533301896980

2.

(1) 10%
12%

2030
9%4%
8%-10%

(2)

5-10

--peter lynch

(1)
(2)K.D ,RSI
Ex
(SARS
)
7

(3)

(35)()
()

()(n)
1.

2.

2030

() PV

()
()

(1)(2)

()()()
()()

10

()

(1)(PMT)(2)

(K)(3)(n)(4)
(PV)

11

1.(PV)

2.

3.(k)
10%20%

4.(n)

5.(FV) ex

12


k;n
1.
1PMT(2
k()(3)
(FV)(4)(n)
(PMT,k,n,FV)

2.PV,n,PMT,k
(FV)
3.PV,n,PMT,k.FV
4k,n
13

()
(+)

14

Warren Buffett(
100)

300

10019

15

4%
0
1
2 20

PMT
PMT PMT
r=4%
50000000
FVA=PMT*FVIFA4%,20
50000000
PMT= 29.778 1679092 /
139924

16

1.10 2.6
13
1.9KD80
15%
0
1
2 20

PMT
PMT PMT
r=15%
50000000
FVA=PMT*FVIFA15%,20
50000000
PMT= 102.44 488090 /
40674
17

90
91
92
93

26.342.38=1115E

5250.9=2646.8E

PV=FV*PVIF
1115
r,3
0.4212
2647
PVIFr,3=
r32%~36%(30%)
18

 (2006~2007)
0
1
220

PMT
PMTPMT
r=28%
50000000
FVA=PMT*FVIFA28%,20
50000000
PMT= 494021 101171.56 8430.96

()
0
20

r=3%
50000000
PV=FV*PVIF3%,20=500000000.5537=27685000
19