Bai tap TCDN Hien ai

Chng 2: Gia tr tien te theo thi gian

Cau hoi:
Cau 1: Tien te co gia tr theo thi gian v 3 l do
- S hien dien cua yeu to lam phat a lam
giam sc mua cua ong tien theo thi gian.
- Mong muon tieu dung hien tai vt mong
muon tieu dung tng lai.
- Tng lai luc nao cung bao ham mot y niem
khong chac chan, chung ta khong biet c la
se nhan c hay mat mot ong tien trong
tng lai hay khong?
Cau 2: Trong ieu kien nen kinh te khong co lam
phat th tien te van co g tr theo thi gian bi le
vo cung n gian, a la tien th phai luon sinh li
va mot ong nhan c hien tai bao gi cung
co gia tr hn mot ong tng lai.
Cau 3: Neu lai suat cua nen kinh te bang 0% th
tien te van co ga tr theo thi gian vi ieu kien
nen kinh te trong tnh trang giam phat.
Cau 4:
a/ Tai khoan cua ban vao 1-1-2008 la:
FV3 = PVx(1 + r ) n = 1000(1 + 8%)3 = 1259, 7$

b/ Lai suat ghep theo qui r=8% nam= 2% qu

FV12 = PVx(1 + r ) n = 1000(1 + 2%)12 = 1268, 2$

c/ FV4 = CFxFVFA(r , n) = 250 x

(1 + 8%) 4 1
= 1126,53$
8%

Cau 5:
a/ e co so d trong tai khoan tiet kiem 1000$ vao
ngay 1-1-2008 th vao ngay 1-1-2005 can phai gi
vao ngan hang mot so tien la:
PV = FVx(1 + r ) n = 1000 x(1 + 8%) 3 = 793,83$

b/ Goi a la so tien phai gi vao eu moi nam, ta

co:

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Bai tap TCDN Hien ai

(1 + r ) n 1
= FV
r
FVxr
1000 x8%
=> a =
=
= 221,92$
n
(1 + r ) 1 (1 + 8%) 4 1
ax

c/ Neu ngi cha cho 750$ vao ngay 01-01-2005 th

en ngay 01-01-2008 so d trong tai khoan ngan
hang la:
FV=750x(1+8%)3=944,784$ <1000$
Do o nen chon cach cha giup bang cac k khoan
gi tien trong ngan hang hn la nhan luon 750$
vao ngay 01-01-2005.
d/ Ta co:
PVx(1+r)3=FV
=>750x(1+r)3=1000
=> r = 3

1000
1 = 10, 06% nam
750

Vay lai suat bay gi la 10,06% nam

e/ Ta co:
(1 + r ) n 1
= FV
r
(1 + r ) 4 1 FV
1000
=
=
= 5,368%
=>
r
a
186, 29
ax

Da vao bang tai chnh 3, ta co: FVFA(r,4)=5,368

=>r=20%
f/ Ta co: r=8% nam=4% ky 6 thang
Gia tr tng lai vao ngay 01-01-2008 cua khoan gi
400%
vao
ngay
01-01-01-2005
la
:
6
400x(1+4%) =506,1276$
So tien can gi them vao ngay 01-01-2008 e
co c 100$ la
100$-506,1276$= 493,8724$
Goi a la so tien can bo sung vao moi ky( 6 thang).
Ta co:
(1 + r ) n 1
ax
= 493,8724$
r
493,8724 x 4%
=> a =
= 74, 46$
(1 + 4%)6 1

g/Goi r la lai suat ieu chnh lai e cung ket qua

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Bai tap TCDN Hien ai

Ta co: (1+r)=(1+r)2
=>r=(1+4%)2-1=8,16%nam
Cau 6.
Ta co lai xuat nam cua ngan hang A la:
rnam = 8% rquy = 2%
Suy ra lai suat co hieu lc tng ng mot nam
cua ngan hang A la:
rthc,nam = (1+ rq ) 4 - 1 = (1+ 2%) 4 - 1 = 8,24%
Vi r nam la lai suat nam cua ngan hang B. e lai
suat cua ngan hang B ngang bang vi lai suat co
hieu lc tng ng mot nam cua ngan hang A, ta
co:
(1+ r nam /12) 12 1 = 8,24% r nam = 7,94%

Bai tap thc hanh:

Cau 1:
FV5 = PVx (1 + r )5 = 10000(1 + 10%)5 = 116105,1$

Cau 2:
PV =

FVn
5000
=
= 1292,1$
n
(1 + r )
(1 + 7%) 20

Cau 3:
FVn
)
log(2)
PV
n=
=
= 11 ky
log(1 + r ) log(1, 065)
log(

Cau 4:
r=

FVn
1 = 18 4 1 = 8, 01%
PV

Cau 5:
FVA5 = CFxFVFA(r , n) = 300 x

(1 + 7%)5 1
= 1725, 22$
7%

Cau 6:
a/ rn= 12% nam =1% thang
PV=20000 $, n=5 nam=60 thang
Ta co:

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Bai tap TCDN Hien ai

PVn = CFxPVFA(r , n)
PVn
PVn
=
PVFA(r , n) 1 (1 + r ) n
r
20000
=
= 444,89$
1 (1 + 1%) 60
1%
=> CF =

Vay so tien ma ban phai tra eu hang thang la

444,89$.
b/ Ta co:
ref = (1 +

rm m
12% 12
) 1 = (1 +
) 1 = 12, 68%
m
12

Vay lai suat co hieu lc tng ng 1 nam cua

khoan vay nay la 12,68%
Cau 7:
a/ PV= 6tr ; FV= 12tr ;n=5 nam
Ta co:
FV = PV (1 + r ) n (1)
FV
=> (1 + r ) n =
PV
12
=> (1 + r )5 = = 2
6
5
<=> r = 2 1 = 14,87%

Vay toc o tang trng hang nam trong doanh so

la 14,87%
b/ Toc o tang trng doanh so cua cong ty Salit
cau a) Doanh so tang gap oi trong nam nam,
ieu nay the hien mc tang trng 100% trong
nam nam hay 20% trong 1 nam => cach noi nay
a sai theo cong thc( 1).
Cau 8: Theo e ta co:
PV=4 tr $; n=10 nam ;FV= 8tr $
Ta co:

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Bai tap TCDN Hien ai

FV = PV (1 + r ) n
FV
=> (1 + r ) n =
PV
8
=> (1 + r )10 = = 2
4
10
<=> r = 2 1 = 7,18%

Cau 9: Theo e ta co:

PV=13250$ ;CF = 2345,05$ ; n=10 nam
Ta co: PVn = CF x PVFA (r,n)
=> PVFA =
=>

1 (1 + r ) n
r

PV30
CF
PV30
13250
=
=
= 5, 6502
CF
2345, 05

Tra bang phu luc 4=> r=12% nam

Cau 10: Theo e ta co:
PV30= 85.000$ ; CF = 8273,59$ ;n=30 nam
Ta co: PVn = CF x PVFA (r,n)
=> PVFA =
=>

1 (1 + r ) n
r

PV30
CF
PV30
85000
=
=
= 10, 2737
CF 8273,59

Tra bang phu luc 4 => r=9% nam

Cau 11.
a.So tien can gi la:
PVA= ax

(1 + i ) n
1 (1 + 7%) 4
= 10 x
= 33872 $
i
7%

b.So d trong tai khoan tien gi ngay tc thi khi

ban rut tien lan au tien la:
33872 x (1+7%) 10000 = 26243,04 $
So d trong tai khoan sau khi rut lan cuoi cung la 0
Cau 12.
Goi n (nam) la thi gian ban se rut het tien, ta co :
PVA = ax

1 (1 + i) n
i

= 12000 = 1500 x

1 (1 + 9%) n
n 15
9%

Vay thi gian can e rut het tien la gan 15 nam

Cau 13.
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Bai tap TCDN Hien ai

Ta co:
(1 + i ) n 1
(1 + 12%)n 1
n 6
i
FVA = a x
= 10000 = 1250x
12%

Vi n = 6 ta co FVA = 1250 x

(1 + 12%) 6 1
= 10143,986 $
12%

x = 10143,986 10000 = 143,986 $

Vay a 6 = 1250 143,986 = 1106,014 $

Cau 14.
Ta co gia tr hien tai cua chuoi dong tien vnh
vien la:
a
100
PVA = i = 7% =1428,57 $

Neu mc lai suat chung cua nen kinh te tang gap

oi va mc lai suat chiet khau bay gi la 14%,
th gia tr hien tai cua chuoi dong tien vnh vien
la:
a
100
PVA = i ' = 14% =714,285 $

Cau 15.
Ta co:
rnam = 8% rquy = 2%
rthc/nam = (1+2%) 4 - 1 = 8,24%
Vay gia tr hien tai cua chng khoan ma ban nen
mua la:
PVA = ax

1 (1 + i) n
i

= 50 x

1 (1 + 8, 24%) 3
+ 1050 x(1 + 8, 24%) 4
8, 24%

893,26 $
Cau16 :
a/So tien co trong tai khoan ngay khi gi k th 5
la :
FVA5 = CFxFVFA ( 6%,5 ) x ( 1 + r ) = 597,5326$.

So tien co trong tai khoan sau 10 nam ke t ngay

bat au gi ky au tien :
FV10 = FVA5 x ( 1 + r ) = 597,5326 x ( 1 + 6% ) = 1432, 022$.
15

15

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Bai tap TCDN Hien ai

b) Theo e ra cho ta :
FV10 = FCxFVA ( 3%,5 ) x ( 1 + 3% )

36

= 1432, 022$ FC = 93, 06549$.

Vay so tien can gi vao au moi qu la 93,06549$.

Cau 17 :
a/Gia tr hien tai cua giai thng la :
PVA = CFxPVFA ( r , n ) x ( 1 + r ) = 9,8181x1, 75 x1, 08 = 18,5562tr $.

b/ Gia tr tng lai cua giai thng sau 20 nam na

la :
FVA20 = CFxFVFA ( r , n ) x ( 1 + r ) = 1, 75 x 45, 7620 x ( 1 + 8% ) = 86, 48Tr $ .
c/ Neu tra cuoi nam th :
PVA
= 17,18167tr $ .
1+ r
FVA20
,
FVA20
=
= 80, 0835Tr $.
1+ r
PVA, =

Cau 18 : Theo e ra, ta co :

qn ( 1+ r )
( 1.1) ( 1 + 0, 07 ) = 17, 6595$
FVA3 = FC
= 5000*
q ( 1+ r )
1,1 ( 1 + 0, 07 )
n

Cau 19 :
Ta co :
PV =

FC1
FC1
FC1
FC2
FC2
+
+ ..... +
+
+ ..... +
=
2
5
6
15
( 1+ r ) ( 1+ r )
(1+ r ) (1+ r )
(1+ r )

5
1
PV

FC
i
j

1
5
15
1
1
i =1 1 + r
= FC1
+
FC

FC
=
=
2
2

15
1
i =1 1 + r
j =6 1 + r
FC2

j =6 1 + r
5

340, 4689 50* ( 1 + 9% )

i =1
j

15

( 1 + 9% )

= 34,99497$

i=6

Vay so tien chi tra hang nam t nam 6 en nam

15 la 34,99497$
Cau 20 :
a/ Lai suat co hieu lc tng ng hang nam cua
ngan hang Second City la :
4

6%
ref = 1+
1 = 6,14% /nam.
4

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Bai tap TCDN Hien ai

Nh vay lai suat hieu lc tng ng hang
nam cua ngan hang Second City nho hn cua ngan
hang First City do vay nen gi tiet kiem vao ngan
hang First City.
b/ Theo giai thiet th ta nen chon ngan hang Second
City v ngan hang cho phep chung ta nhan c mot
khoan li nhuan trong mot nam con ngan hang
First City th se khong co c li nhuan trong mot
nam ma phai ch en cuoi ky mi co c li
nhuan kep luc o ngan hang mi ket chuyen von
tnh lai.
Cau 21 :
Ty suat sinh li cua chng khoan Z :
FVz = PVz *(1+rz )10 rz = 10

FVz
1 = 9%.
PVz

Ty suat sinh li cua chng khoan B :

i

10

1
1
PVAB = FC1
+ FC2

1+ r
i =1 1 + r
9

10

9
1
1
1000 = 80
+ 1080
r = 8%
1+ r
i =1 1 + r

Vay ty suat sinh li cua chng khoan B la 8%/nam.

b/ oi vi chng khoan Z, ta co gia ban sau 10
nam van la 1000$ ma ty suat sinh li cua no
giam xuong con 6% t o ta co gia cua no thay
oi la :
FVz = PVz, *(1+r , )10 PVz, =

FVz
1000
=
= 558,395$ .
10
, 10
(1+r )
( 1 + 0, 06 )

Li nhuan cua chng khoan Z trong trng hp nay

la :
z = PVz, PVz = 135,98$

% z = z = 32,19%
PVz

oi vi chng khoan B, tng t nh tren ta co :

i

10

1
1
PVA = FC1
+ FC2

1+ r
i =1 1 + r
,
B

Li nhuan cua no la :

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Bai tap TCDN Hien ai

B = PVAB, PVAB = 147, 202$
B
% B =
= 14, 72%.
PVAB

Cau 22 :
a/ Chi ph moi nam hoc ai hoc cua co gai o la :
FV1 = PV * ( 1 + rlp ) = 15953,52$.
5

FV2 = PV * ( 1 + rlp ) = 16751, 2$.

6

FV3 = PV * ( 1 + rlp ) = 17588, 76$.

7

FV4 = PV * ( 1 + rlp ) = 18468,19$.

8

Ga tr hien tai cua khoan chi ph hoc 4 nam ai hoc

tai thi iem co gai bat au c 18t la :
PV5 = FV1 +

FV3
FV2
FV4
+
+
= 61203,88$
2
( 1 + rlstk ) ( 1 + rlstk ) ( 1 + rlstk ) 3

b/ Gia tr tng lai cua khoan tien 7500$ ma co gai

nhan c t ngi ong noi cua mnh vao thi
iem co gai bat au hoc vao 18t :
5
FVtk = 7500* ( 1 + 8% ) = 11019,96$ .
c/ So tien gi tiet kiem can thiet can thiet cho
moi nam e am bao hoc ph ai hoc cho co con
gai la :
PV5 FVtk = FC * FVFA ( 8%, 6 ) = 50183,93$

FC =

50183,93$
= 6840,87$
FVFA ( 8%, 6 )

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