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192 Annexe D: Formules utilisées
File name: hp 12c_user's guide_Canada French_HDPMBF12130 Page: 192 of 217
Printed Date: 2005/7/29 Dimension: 14.8 cm x 21 cm
Analyse de la valeur actualisée des flux financiers
Valeur actualisée nette
NPV = valeur actualisée nette pour un taux de rentabilité interne.
CF
j
= flux financiers de la période j.
n
n
i
CF
i
CF
i
CF
CFNPV
)1(
...
)1(
)1(
2
2
1
1
0
+
++
+
+
+
+=
Taux de rentabilité interne
n = nombre de flux financiers
CF
j
= flux financiers à la période j.
IRR = Taux de rentabilité interne
0
1
)1(
)1(1
0 CFIRR
IRR
IRR
CF
jq
j
nq
k
j
n
j
+
+
+
=
=
<
Calendrier
Base réelle
DYS = f(DT
2
) – f(DT
1
)
f(DT) = 365 (aaaa) + 31 (mm – 1) + jj + INTG (z/4) – x
et
pour mm
2
x = 0
z = (aaaa) – 1
pour mm > 2
x = INTG (0,4mm + 2,3)
z = (aaaa)
INTG = Partie entière.
Remarque:
Des test supplémentaires sont effectués afin de s'assurer que
les siècles (mais pas les millénaires) ne soient pas considérés comme des
années bissextiles.
Base 30/360 jours
JOURS = f(DT
2
) – f(DT
1
)
f(DT) = 360 (aaaa) + 30mm + z
pour f(DT
1
)
si dd
1
= 31 alors z = 30
si dd
1
31 alors z = dd
1
pour f(DT2)
si dd
2
= 31 et dd
1
= 30 ou 31 alors z = 30
si dd
2
= 31 et dd
1
< 30 alors z = dd
2
si dd2 < 31 alors z = dd
2
192


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