同学你好!
根据净现金流量的图表,内含报酬率是:当未来现金流量的现值刚好等于初始投资额时的折现率。
假设内含报酬率为i
6560=2195.8*(P/F,i,1)+2246.42*(P/F,i,2)+2298.13*(P/F,i,3)+5755.1*(P/F,i,4)
题目中给出了三个利率的系数表:
当i=15%时,等式右边=2195.8*0.8696+2246.42*0.7561+2298.13*0.6575+5755.11*0.5718=8409.78
当i=26%时,等式右边=2195*0.7937+2246.42*0.6299+2298.13*0.4999+5755.11*0.3968=6589.65
当i=28%时,等式右边=2195.8*0.7813+2246.42*0.6104+2298.13*0.4768+5755.11*0.3725=6326.32
选取最接近6560的两个数据,
i=26%,6589.65
i 6560
i=28%,6326.23
利用插值法计算:
(i-26%)/(28%-26%)=(6560-6589.65)/(6326.32-6589.65)
计算得出i=26.23%