Annuities Due (Simple and General)

Solution : Il s’agit d’une annuité de début de période pour laquelle i = 0,5 , n=12 et FV=1000€ Avec VPM(0,5 ; 12 ; 0 ; -1000 ; 1 ), on trouve PMT=80,66€ 9 – Calcul du taux périodique dans le cas d’une annuité : La fonction Excel TAUX permet de calculer la valeur du taux i L’appel de cette fonction se fait comme suit :

Utilisation des fonctions financières d’Excel

Utilisation des fonctions financières d’Excel Ex : On veut disposer d’un capital de 8000$ dans 15 ans en déposant aujourd'hui une certaine somme d'argent dans une institution financière qui verse de l’intérêt au

Annuities Due (Simple and General) - George Brown College

Annuities Due (Simple and General) Therefore, the future value at the end of the last payment period is $3310 13

LES AMORTISSEMENTS

Lorsque le bien est acquis en cours d’exercice, la première annuité comprend : une annuité réduite calculée au prorata temporis + une annuité complète Les autres amortissements sont calculés sur la VO en y appliquant le taux d’amortissement Exemple : achat d’une machine le 1er juin 1993, prix d’acquisition 18 000 000f, durée

CORRIGÉ DU DEVOIR D40064 - Réseau Étudiant

La fonction d’EXCEL permettant A B C Réponse 1 de calculer le nombre d’annuités constantes est : VPM VA NPM C 2 de calculer le montant de l’annuité dans une suite de versements constants est : NPM VC VPM C 3 de calculer le montant d’une dette remboursée sur ans à venir par des mensualités de au taux de

LAMORTISSEMENT LINEAIRE

La somme de la première annuité et de la dernière annuité équivaut à une unité normale de 312,50 € C'est précisément parce que l'amortissement est linéaire que la durée totale doit être exactement de quatre ans Puisque j'ai commencé à amortir le 2 mai 2010, j'ai

Chapitre 34 : Evaluation des immobilisations à la clôture

Thème 3 : Evaluation des actifs et des passifs – Chap 3 4 Evaluation des immobilisations à la clôture -3- Voir fichier Excel 4) Justifier le montant de l’amortissement fiscal 2015 de la structure

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Les choix d’investissement Page 3 Arnaud THAUVRON pour e-theque 4 2 Les flux des périodes intermédiaires 19 4 3 Les flux de la période terminale 20

UNIVERSITÉ PARIS DAUPHINE

UNIVERSITÉ PARIS DAUPHINE Département MIDO (*) MASTER MIDO MENTION MMD(**) SPÉCIALITÉ ACTUARIAT Année Universitaire : 2007-2008 Mémoire d'Actuariat présenté en novembre 2008 devant l'Université Paris

Annuities due are a type of annuity where

payments are made at the beginning of each payment period. For example, when paying rent, the rent payment (PMT) is due at the beginning of each month Some keywords to look for: - deposits/payments made at the be ginning of each month - payments made in advance - payments starting today - due at the beginning Simple Annuities Due are annuities where payments are made at the beginning of each period and the compounding period is

EQUAL to the payment period (P/Y = C/Y)

General Annuities Due are annuities where payments are made at the beginning of each period but the compounding period is

NOT equal

C/Y) Calculations for Annuities Due using the BA II Plus: To set to BGN mode: 2ND BGN 2ND SET 2ND QUIT Top right corner of your calculator should say BGN

1. Always start with clearing your calculator: 2ND CLRTVM 2. Make sure calculator mode in BGN

3. Set P/Y = , enter , C/Y= , enter 2ND QUIT 4. Afterwards, the sequence does not matter as long you follow step 1-3 5. CPT = what you need to find, depending on the question

Example

1.) Find the FV (Future Value) at the end of the last payment

period. Payments of $1000 each are made at the beginning of each year for 3 years with interest at 5% compounded annually.

1 2 3 (Focal Date)

$1000 $1000 $1000 |__________|__________|

BGN, P/Y = 1, C/Y

= 1 (Therefore this is a simple annuity due) PMT= 1000 (+/-), N= 3, I/Y= 5, CPT = FV (3,310.13)

Annuities Due (Simple and General)

Therefore, the future value at the end of the last payment period is $3

310.13

Example

2: A four-year lease agreement requires payments of $10,000 at the beginning of every year. If the interest rate is 6 % compounded monthly, what is the cash value of the lease? (Focal Date) Now

2 3 4

10,000 10,000

|_________|_ ________|________|

BGN, P/Y = 1, C/Y =

12 (herefore this is an general annuity due)

PMT= 10,000(+/-), N=4, I/Y=6, CPT=PV (36,647.36)

Therefore, the cash value of the lease is $36,647.36

Practice

Questions:

1.) What deposit made at the beginning of each month will accumulate to $120,000 at

8% compounded semi-annually at the end of 10 years?

2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of each month. If interest on the account is 5% compounded quarterly, for

how long does Laura have to deposit the money?

3.) James deposited $150 at the beginning of each month for two years into his savings

account. For the next four years he did not make any more deposits, leaving the money in the account. The bank charges 4% interest compounded monthly. What will the balance be after 12 years?

Answers:

1) $656.40

2) n = 116.5/12 = 9.7 years

3) $4,404.70.

Hint: first step is to find balance [FV] after 2 years, which will become the Present Value using the FV formula for compound interest since PMT=0 for the last 4 yearsquotesdbs_dbs2.pdfusesText_2

[PDF] Annuities Due (Simple and General) - George Brown College

FONCTIONS FINANCIERES EXCEL 1 FONCTIONS FINANCIERES EXCEL 2 1

Utilisation des fonctions financières d’Excel

Annuities Due (Simple and General) - George Brown College

LES AMORTISSEMENTS

CORRIGÉ DU DEVOIR D40064 - Réseau Étudiant

LAMORTISSEMENT LINEAIRE

Chapitre 34 : Evaluation des immobilisations à la clôture

Les choix dinvestissement

UNIVERSITÉ PARIS DAUPHINE

Annuities Due (Simple and General)

Annuities due are a type of annuity where

EQUAL to the payment period (P/Y = C/Y)

NOT equal

1. Always start with clearing your calculator: 2ND CLRTVM 2. Make sure calculator mode in BGN

3. Set P/Y = , enter , C/Y= , enter 2ND QUIT 4. Afterwards, the sequence does not matter as long you follow step 1-3 5. CPT = what you need to find, depending on the question

Example

1.) Find the FV (Future Value) at the end of the last payment

1 2 3 (Focal Date)

BGN, P/Y = 1, C/Y

Annuities Due (Simple and General)

310.13

Example

2 3 4

10,000 10,000

10,000 10,000

BGN, P/Y = 1, C/Y =

12 (herefore this is an general annuity due)

PMT= 10,000(+/-), N=4, I/Y=6, CPT=PV (36,647.36)

Practice

Questions:

1.) What deposit made at the beginning of each month will accumulate to $120,000 at

8% compounded semi-annually at the end of 10 years?

2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of each month. If interest on the account is 5% compounded quarterly, for

3.) James deposited $150 at the beginning of each month for two years into his savings

Answers:

1) $656.40

2) n = 116.5/12 = 9.7 years

3) $4,404.70.