Corporate Finance. FINA1003, Fall 2009 Xiaohui Gao Faculty of Business and Economics University of Hong Kong. Chapter 6 Discounted Cash Flow Valuation. Time Value of Money (summary of single cash flow). Time value of money refers to A dollar today is better than a dollar in the future

ByCHAPTER 2 Time Value of Money. Future value Present value Annuities Rates of return Amortization. Time lines. 0. 1. 2. 3. i%. CF 0. CF 1. CF 2. CF 3. Show the timing of cash flows.

ByTime Value of Money (CH 4). TIP If you do not understand something, ask me!. Future value Present value Annuities Interest rates. Last week. Objective of the firm Business forms Agency conflicts Capital budgeting decision and capital structure decision.

ByCHAPTER 6 Time Value of Money. Future value Present value Annuities Rates of return Amortization. Time lines. 0. 1. 2. 3. i%. CF 0. CF 1. CF 2. CF 3. Show the timing of cash flows.

ByCHAPTER 2 Time Value of Money. Future value Present value Annuities Rates of return Amortization. Time lines. 0. 1. 2. 3. I%. CF 0. CF 1. CF 2. CF 3. Show the timing of cash flows.

ByBond Mathematics. Finance 298 Analysis of Fixed Income Securities. A General Valuation Model. The basic components of valuing any asset are: An estimate of the future cash flow stream from owning the asset The required rate of return for each period based upon the riskiness of the asset

ByTime Value of Money (CH 4). TIP If you do not understand something, ask me!. Future value Present value Annuities Interest rates. Last week. Objective of the firm Business forms Agency conflicts Capital budgeting decision and capital structure decision.

ByChapter 2: Time Value of Money. Future value Present value Rates of return Amortization. Time lines show timing of cash flows. 0. 1. 2. 3. i%. CF 0. CF 1. CF 2. CF 3. Tick marks at ends of periods, so Time 0 is today; Time 1 is the end of Period 1; or the beginning of Period 2.

ByCorporate Finance. Lecture Four – The Time Value of Money ( Pt 2). Learning Objectives. 1. Compute the future value of multiple cash flows. 2. Determine the future value of an annuity. 3. Determine the present value of an annuity.

ByLecture 3. Managerial Finance FINA 6335 Ronald F. Singer. Wealth. In Lecture 1 we concluded that the object of a manager is to attempt to make an individual's " wealth " as great as possible. Wealth. Consumption next year After Investment 2425 2250 1000 500

ByChapter 5. Time Value of Money. Future Value Present Value Annuities Different compounding Periods Adjusting for frequent compounding Effective Annual Rate (EAR). The Concept of TVM. You want to buy a computer and a friend offers you a $1000. Would you prefer use the money now.

ByChapter 4. The Time Value of Money (Part 2). Learning Objectives. 1. Compute the future value of multiple cash flows. 2. Determine the future value of an annuity. 3. Determine the present value of an annuity.

ByIntroduction to Firm Valuation. Equity vs. Firm Valuation. Value of Equity: The value of the equity stake in the firm, the value of the common stock for a publicly traded firm Value of Firm: The value of all investors who have claims on the firm. A General Valuation Model.

ByChapter 2. Time Value of Money. Time Value Topics. Future value Present value Rates of return Amortization. Time lines show timing of cash flows. 0. 1. 2. 3. I%. CF 0. CF 1. CF 2. CF 3.

ByTime Value of Money. Why do we need TVM?. $ now does not equal $ later Why? Inflation Purchasing power. Key Variables in TVM. PV FV I PMT N. Basic Examples. What is the basic formula for PV? Example #1 Example #2. Annuities. What is an annuity? How do we solve for an annuity?.

ByPrinciples of Finance Part 3. The Time Value of Money. Chapter 9. Requests for permission to make copies of any part of the work should be mailed to: Thomson/South-Western 5191 Natorp Blvd. Mason, OH 45040. Time Value of Money. The most important concept in finance

ByCHAPTER 5 Time Value of Money The most powerful force in the universe is compound interest-Albert Einstein. Future value Concept/Math/Using calculator Present value Concept/Math/Calculator/solving for N,i Annuities Concept/math/calculator/other variables perpetuity Uneven cash flow

ByChapter: 03(04). Time Value of Money. What is Time Value of Money?. Time value of money is based on the belief that a dollar today is worth more than a dollar that will be received at some future date because the money it now can be invested & earn positive return. 0. 1. 2. 3. 4. 5.

ByTime Value of Money. Why do we need TVM?. $ now does not equal $ later Why? Inflation Purchasing power. Key Variables in TVM. PV FV I PMT N. Basic Examples. What is the basic formula for PV? Example #1 Example #2. Annuities. What is an annuity? How do we solve for an annuity?.

ByBusiness Finance (MGT 232). Lecture 6. Time Value of Money. Overview of the Last Lecture. Annuity Types of Annuity Future Value Annuity Ordinary Annuity Annuity Due Present Value Annuity Ordinary Annuity Annuity Due Steps to Solve Time Value of Money Problems. Uneven Cash Flows.

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