WZORY

FV = PV (1+ p)t PV = FV t (1+ p) K am(i) = 1 W am N

K rr(i ) = (a r + p)W am ar = p (1 + p)N p n

p = K b w1 + K w w2 w 1 + w2 = 1 K b = i (1
N

S (i ) = R(i) + O(i )
pr =
t

Pd )

K d = K t (1 + p)
t =1

N = L n
O(i ) = p r K sp(i R(i ) = 1 K sp N
1)

kz =
M

K nd Kn

1)

K nd = K n ( t ) (1+ p)t
t =0

K n = Kn(
t =0

t)

K sp(i) = K sp (i S (i ) = r K sp =
N

R(i ) K sp

K e = K d r = K 'd a r p (1 + p)T r= T (1 + p) 1 ar = p (1 + p)T

p r (1 + pr ) N (1 + p r ) N 2 N +1 1

O(i )
pe = ARR = ARR e = P
PBP t =1 i=1

K sp P

( K + D + A) I ( K + O + D + A) I K sp ( K t + D t )]

r = ar + p r = a r (1 + p)T

I = [P t
N

K rr(i ) = K am(i) + K op(i)

NPV = NCF t a t =
t=1

= [P t
t=1 N

(K t + Dt )] a t

I t a t
t =1

W am = W p

0 = [P t Wk
t=1

( K t + Dt )](1 + IRR) t +

I t (1 + IRR) t
t =1 1)

K op(i) = p W am (i W am(i) = W am (i
1)

IRR = r 1 +

PV (r 2 r 1 ) PV + NV

K am(i)