公司理财精要版原书第12版习题库答案Ross12e_Chapter06_TB_图文.pdfVIP

FundamentalsofCorporateFinance,12e(Ross)

Chapter6DiscountedCashFlowValuation

A)Timeandfuturevaluesareinverselyrelated,allelseheldconstant.

B)Interestratesandtimearepositivelyrelated,allelseheldconstant.

C)Anincreaseinapositivediscountrateincreasesthepresentvalue.

D)Anincreaseintimeincreasesthefuturevaluegivenazerorateofinterest.

E)Timeandpresentvalueareinverselyrelated,allelseheldconstant.

discountrate?(Nocalculationsneeded)

A)BothprojectshavethesamefuturevalueattheendofYear4.

B)BothprojectshavethesamevalueatTime0.

C)Bothprojectsareordinaryannuities.

D)ProjectYhasahigherpresentvaluethanProjectX.

E)ProjectXhasbothahigherpresentandahigherfuturevaluethanProjectY.

calculationsneeded)

A)ThecashflowsforProjectBareanannuity,butthoseofProjectAarenot.

B)BothsetsofcashflowshaveequalpresentvaluesasofTime0.

exponentofthree.

amount.

E)ProjectBisworthlesstodaythanProjectA.

4)Youarecomparingtwoinvestmentoptionsthateachpay6percentinterest,compounded

$4,000each.Whichoneofthefollowingstatementsiscorrectgiventhesetwoinvestment

options?Assumeapositivediscountrate.(Nocalculationsneeded.)

A)Bothoptionsareofequalvaluesincetheybothprovide$12,000ofincome.

B)OptionAhasthehigherfuturevalueattheendofYear3.

C)OptionBhasahigherpresentvalueatTime0.

D)OptionBisaperpetuity.

E)OptionAisanannuity.

yearsat7percentinterest,compoundedannually.

B)Aperpetuitycomprisedof$100monthlypaymentsisworthmorethananannuityof$100

monthlypaymentsprovidedthediscountratesareequal.

C)Mostloansareaformofaperpetuity.

D)Thepresentvalueofaperpetuitycannotbecomputedbutthefuturevaluecan.

E)Perpetuitiesarefinitebutannuitiesarenot.

A)Youcancomputethepresentvalueofagrowingannuitybutnot