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8/20/2019 02. Lecture 20.01.2016
1/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"#$%&'(')$ +(,-.#/#
!"#$ &'()$ *+ ,*-$.
8/20/2019 02. Lecture 20.01.2016
2/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"#$%&'(')$ +(,-.#/#
!"#$ &'()$ *+ ,*-$.
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8/20/2019 02. Lecture 20.01.2016
3/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"#$%&'(')$ +(,-.#/#
!"#$ &'()$ *+ ,*-$.
;)'-:+."-4 3''2# $5'
3*808 K/-- /(37',#' $5' :,-B' "6 $5' )78L
8/20/2019 02. Lecture 20.01.2016
4/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"#$%&'(')$ +(,-.#/#
!"#$ &'()$ *+ ,*-$.
;)'-:+."-4
8/20/2019 02. Lecture 20.01.2016
5/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"#$%&'(')$ +(,-.#/#
!"#$ &'()$ *+ ,*-$.
;)'-:+."-4
8/20/2019 02. Lecture 20.01.2016
6/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"8A'CC:' 0,71'$ Y7/3'# Z'$'78/(' [,-B'
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8/20/2019 02. Lecture 20.01.2016
7/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
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8/20/2019 02. Lecture 20.01.2016
8/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"8A'CC:' 0,71'$ Y7/3'# Z'$'78/(' [,-B'!"#$ &'()$ *+ ,*-$.
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8/20/2019 02. Lecture 20.01.2016
9/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
!"8A'CC:' 0,71'$ Y7/3'# Z'$'78/(' [,-B'!"#$ &'()$ *+ ,*-$.
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8/20/2019 02. Lecture 20.01.2016
10/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
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8/20/2019 02. Lecture 20.01.2016
11/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
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8/20/2019 02. Lecture 20.01.2016
12/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
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8/20/2019 02. Lecture 20.01.2016
13/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m
B e t r i e b s w i r t ( F H )
+AA-./(< $5' [,-B,C"( Y7/(3/A-'!"#$ &'()$ *+ ,*-$.
J5*6($#K
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8/20/2019 02. Lecture 20.01.2016
14/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
+AA-./(< $5' [,-B,C"( Y7/(3/A-'!"#$ &'()$ *+ ,*-$.
MF$3)0$K
f#/(< $5' 3"8A'CC:' 8,71'$ A7/3'# K' 5,:'F
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&'3,B#' $5' :,-B' /# ('
8/20/2019 02. Lecture 20.01.2016
15/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
+AA-./(< $5' [,-B,C"( Y7/(3/A-'!"#$ &'()$ *+ ,*-$.
J5*6($#K
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8/20/2019 02. Lecture 20.01.2016
16/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
+AA-./(< $5' [,-B,C"( Y7/(3/A-'!"#$ &'()$ *+ ,*-$.
MF$3)0$K
f#/(< $5' 3"8A'CC:' 8,71'$ A7/3'# K' 5,:'F
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8/20/2019 02. Lecture 20.01.2016
17/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
35,(
8/20/2019 02. Lecture 20.01.2016
18/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
!1$ Y-0$5$80 /'0$
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8/20/2019 02. Lecture 20.01.2016
19/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
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8/20/2019 02. Lecture 20.01.2016
20/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
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J5' /# 3'7$,/( $5,$ ('>$ .',7 $5' -,(2 K/-- 4' K"7$5 p_P=OOO= , #B7' pk=OOO
8/20/2019 02. Lecture 20.01.2016
21/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
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8/20/2019 02. Lecture 20.01.2016
22/28+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
!"8A,7/(< ?':'(B'# ,$ Z/m'7'($ Y"/($# /( Q/8'.
MF$3)0$K
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Q" 3"8A,7' $5/# ,8"B($ $" 7':'(B'# "6 RN 4/--/"( /6 -,B(35'2 /( NOOb= K' 8B#$3"(:'7$ /$ B#/(< $5' /($'7'#$ 7,$' "6 `oF
RPLk 4/--/"( /( NOOk s SRPLO` /( NOOkVRP /( NOObT W
RPLk 4/--/"( s PLO` W RPLX`P 4/--/"( /( NOOb
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8/20/2019 02. Lecture 20.01.2016
23/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
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J5*6($#K
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8/20/2019 02. Lecture 20.01.2016
24/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
!"8A,7/(< ?':'(B'# ,$ Z/m'7'($ Y"/($# /( Q/8'.
MF$3)0$K
96 $5' -,B(35 /# 2'-,.'2 $" NOOk= 7':'(B'# K/-- 27"A 4. cbo "6 Rc 4/--/"(=
"7 RPLOb 4/--/"(= $" RPL_b 4/--/"(L
Q" 3"8A,7' $5/# ,8"B($ $" 7':'(B'# "6 Rc 4/--/"( /6 -,B(35'2 /( NOOb= K' 8B#$
3"(:'7$ /$ B#/(< $5' /($'7'#$ 7,$' "6 koF
RPL_b 4/--/"( /( NOOk s SRPLOk /( NOOkVRP /( NOObT W
RPL_b 4/--/"(VPLOk W RPL`XO 4/--/"( /( NOOb
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MH'()'0$K
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8/20/2019 02. Lecture 20.01.2016
25/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
Q/8'-/('#
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Z,$' O /# $"2,.= $5' 4'
8/20/2019 02. Lecture 20.01.2016
26/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
/)($ DK
8/20/2019 02. Lecture 20.01.2016
27/28
+++ MCO 201 +++ Finance +++ Spring 2016 +++
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
/)($ PK V"83*)-:-4
! Q" 3,-3B-,$' $5' :,-B' "6 , 6B$B7' 3,#5 l"K ,$ ,( ',7-/'7 A"/($ /(
C8'= K' 8B#$ 2/#3"B($ /$
[,-B/(< !,#5 ;-"K# ,$ Z/m'7'($ Y"/($# /( Q/8'
PV = C ÷ (1+ r)n=
C
(1+ r)n
!"#$ &'()$ *+ ,*-$.
8/20/2019 02. Lecture 20.01.2016
28/28
A n d r e a s B a n g e
D i p l o m B
e t r i e b s w i r t ( F H )
! 96 R`NkLXb /# /(:'#$'2 $"2,. 6"7 $K" .',7# ,$ POo /($'7'#$= $5' 6B$B7'
:,-B' K/-- 4' RP=OOO
[,-B/(< !,#5 ;-"K# ,$ Z/m'7'($ Y"/($# /( Q/8'
! 96 RP=OOO K'7' $57'' .',7# ,K,.= $5' A7'#'($ :,-B'= /6 $5' /($'7'#$ 7,$' /# POo=
K/-- 4' RgbPLcP
FVn = C * (1+ r)n
PV =C
(1+ r)n
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