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1 B A B C D 2( D ) A B C D 3 B A B C D 410100 B A76.92 B75.1 C130 D133.1 51000104 ( D ) A1200 B1350 C1400 D1464 6 A A B C D 7ӣB A B C D 8 1.6 B A3.2 B2.56 C1.6 D1 9( D ) A B C D 10 B A B C D 11 1500 1.5% 12% 33% B A 8% B 8.16% C 7.84% D 8.84% 12 ԧ ( A ) A B C D 13( B ) A B C D 14( B ) A B C D 154/2.5%, 15%,( B ) A26.67/ B32/
1

C30/ D28/ 16 A A B C D 17 B A B. C. D. 18 B A B C D 19٧( B ) A B C D 20 C A B C D 21 D A B C D 22 ,(B ) A B C D 23. B A. B. C. D. 24. A A.§ B 3 500 C D 25200820075l0 2007 2008 2007 ( A ) A4.5 B5.5 C10 D10.5 (1-5%)(1+10%)=1.045%-1=4.5% 26.(B) A. B. C. D. 27.(A) A. B. C. D. 28.(B) A. B. C. D. 29.(C)
2

A. B. C. D. 30.(C) A. B. C. D. 31.1 00010 8(B) A. B. C. D. 32.(C) A. B. C. D. 33.(A) A. B. C. D. 34.ڧ(D) A. B. C. D. 35.ڧ(A) A. B. C. D. 36.(D) A. B. C. D. 37 C A. B. C. D. 38 100008%A A.125000 B.100000 C.108000 D.112500 39 C A. B. C. D. 40 B A. B. C. D. 41 B A. B. C. D. 42 B A. B. C. D. 43EBIT A A. B. C. D. 44 B
3

A. B. C. D. 45 A A. B. C. D. 46ԧ A A. B. C. D. 47( C ) A. B. C. D. 48 1.5 10% 20% B A.15% B.25% C.30% D.20% 49A A. B. C. D. 50ӧ D A. B. C. D. 51 A A. B. C. D. 52 B A B. C D. 53 D A. B. C. D. 54 C A. B. C. D. 55 67 33% 50 B A. 2.78 B. 3 C. 1.9 D. 0.78 56F/A10%4=4.6410 F/P10%4=1.4641 F/P10%5 =1.6105F/A10%5 A A. 6.1051 B. 6.2515 C. 3.1769 D.2.0305 [4.6410+1.4641=6.1051] 57 P/A 10% 10 =6.145 10 10% D A. 6.120 B. 6.145 C. 5.586 D.6.76 [6.145*1.1=6.76]

4


1ڧ( ) A B C D 2ڧ( ) A B C D 3( ) A B C D 4 ABCDE A B C D E 5( ) A B C D 6( BC ) A B C D 7( BC ) A B C D 8ϧ ABCD A B C D 9( BCD ) A B C D 10( AB ) A B C D 11( AB ) A B C D 12( AB ) A B C D 13 B A B C D 14ԧϧ ABD A. B. C. D. 15 AD A B
5

C D 16 ABC A B. C D 17ڧ( ) A B C D 18( ) A B C D 19 BC A B C D 20 A B C D 21 A B C D 22 A B C D 23 BCD A. B. C. D. E. F. 24. AB A. B. C. D. 25.ڧ( ABCD ) A B C D 26.ۧ(ABCD ) A=1 B=1 C(1+)= D(1+)= 27.ڧ( ACD ) A B C 28ڧ(AB ) A B C 29.(BCD) A. B. C. D. E. D D

6

30.(ABD) A. D. B. C. E.


11600 % % 480 30 11 160 10 12 640 40 18 320 20 17 1600 100 400 10030010% 2% 220200362% 33% =6.84%=18.36% 24%5% 8% 47% 16% =15.29% 2 1600 % % 480 30 6 160 10 8 640 40 18 320 20 17 1600 100 400 400 10% 2% 20019036 2%33% 1.=6.84%3=20.95%3=12.872% 3AB

A 20000 1.5

B 60000 1
7

2 2 140000 140000 800000 800000 10% 0 320000 50000 80000 ABAB DOLA=1.4 DOLB=1.75 DFLA=1 DFLB=1.67 DTLA=1.4 DTLB=2.92 B 4 0 1 2 3 4 5 6 -220 25 25 25 25 25 25 80 80 80 80 80 100 6% 5 6% 4.212 6 0.746 220554 554.212750.746220287.6122067.61 5 10,000 5 5 5 8,000 3,000 40% 10% 1 2) 3 4 5
i i=10% i=10% 0.909 1.736 2.487 3.170 3.791 4.355 4.868 0.909 0.826 0.751 0.683 0.621 0.564 0.513 1 2 3 4 5 6 7

[11-5 3,800 2 2.63 3 3,800/10,000=38% 4 4,405.8 5 26.13]

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6 20021231 150 45 200 90 350 144 36 350 315 385 700 700 2002 3151502.1 315144361500.9 3507000.5 73040 302070 302070[30402]3 3603120 8 12 31 1600 1800 880 1550 300 500 1080 1200 3300 4100 808 880 332 310 3100 3940 300 500 1750 1920 50 40 5200 6400 5200 6400

9

15000 12000 8500 600 4400 2200 =15000/5200+64002=2.59 =12000/1080+12002=10.53 =8500/808+8802=10.07 =3940/1800=2.19 =3940-880/1800=1.7 =1800+500/6400=0.36 =4400+600/600=8.33 =4400/5200+64002=0.76 =2200/4100+33002=0.59 997ۧ 1 1500 2 900 3 150 20 4 390 5 240 6 1000 7 640 660 =/=26%; =/ =22.86% =/=24% =/+2=36.92% 10.20046002102005 450 2006250 70%30% 1 2005 2 2005 3 2005 [1275 2210
10

3157.5

]

11 2009 4000 1440 2010 4500 6000 2011 5000 2009 2011 50%ۣ 2010 2011 2010 20 3 2010 2010 ̦ [ (1)1440/4000*4500/6000=0.27 / 2(4500-50%5000)/60000.33 / (3) 1200 1200*3*0.97=3492 1508 4500-1508/6000=0.5 / ] 12. 0 1 2 3 4 5 800 200 100 600 B 1000 800 1000 900 A 100 1100 800 180 C 437.4 262.44 590.49 1 2 3 [1 A900600300 B100300400 r 1802001r1 1r10.9 1r20.81 C1000.8181 2
11

3300/4003.75 3.7512.75 80018081437.4262.44590.49391.33 8002001000 800180980 391.339800.40 10.401.40 81437.4262.44590.499801. 40 3 ] 13AB A4 0.2 5
B60.5 10

AB () [

] 14 AB 5 A 20000 12000 10000 B 50000 28000 23200 12% AB
12

\ 5

12% 3.605

14% 3.433

15% 3.352

16% 3.274

[1 A 20000/5=4000 NCF12000-10000+4000=6000 NPV60003.60520000=1630 B 50000/5=10000 NCF280002320010000=14800 NPV148003.60550000=3354 AB B 2 A 20000/6000=3.333 3.352 15% 3.333 15+x% 3.274 16% x=0.23, IRR=15.23% B 50000/14800=3.378 IRR14.68% AB IRR 12% A ]

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