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36 TVM- und Amortisationsarbeitsblätter
Antwort: Der Barwert der Cash-Flows beträgt 23.171,23 und übersteigt
somit die Kosten der Maschine um
171,23. Es handelt sich also um eine
rentable Investition.
Hinweis: Variable Cash-Flows sind (im Gegensatz zu Annuitäten) zwar
nicht identisch, der Barwert kann jedoch dadurch berechnet werden,
dass die Cash-Flows als eine Serie von Zinseszinszahlungen betrachtet
werden.
Der Barwert variabler Cash-Flows entspricht dem Wert der Cash-Flows am
Ende der jeweiligen Zahlungsperiode, die rückwirkend auf den Anfang
der ersten Cash-Flow-Periode (Zeitpunkt 0) abgezinst wurden.
Barwert des ersten Cash-Flow
berechnen
% .
PV=
4,545.45
In
M1 speichern D 1
4,545.45
Zweiten Cash-Flow eingeben 7000 S 0
FV=
-7,000.00
Zweite Cash-Flow-Periode
eingeben
2 ,
N=
2.00
Barwert des zweite
n Cash-Flow
berechnen
% .
PV=
5,785.12
Summ
e speichern D H
1
5,785.12
Dritten Cash-Flow eingeben 8000 S 0
FV=
-8,000.00
Zahl der Periode
eingeben
3 ,
N=
3.00
Barwert des drit
ten Cash-Flow
berechnen
% .
PV=
6,010.52
Summ
e speichern D H
1
6,010.52
Vierten Cash-Flow eingeben 10000 S 0
FV=
-10,000.00
Zahl der Periode
eingeben
4 ,
N=
4.00
Barwert des vierten Cas
h-Flow
berechnen
% .
PV=
6,830.13
Summ
e speichern D H
1
6,830.13
Gesamtbarwert abrufen J 1 23,171.23
Anschaffungskosten abziehen B 23000 N
171.23
Vorgang Drücken Anzeige
42


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