finalcial economics 2nd solution 2판 대학교재솔루션 DownLoad JZ

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자료문서 (압축문서).zip

finalcial economics 2nd solution 2판 대학교재솔루션

재무의 이해, 박영석 09년 2판의 원서 솔루션

CHAPTER 5 - Household Savings and Investment Decisions

End-of-Chapter Problems

1. Freds company has a defined-benefit pension plan. Suppose the plan pays a benefit equal to 1%

of final salary per year of service. Fred is 40 years old and has worked for the company for 15 years.

His last years salary was $50,000 and is expected to remain so in real terms until retirement. The

expected rate of inflation is 4%.

a. If normal retirement age is 65, the interest rate is 8%, and Freds life expectancy is 80, what is

the present value of his accrued pension benefit?

b. What efect should his pension benefit have on Freds planned saving assuming he has a 75%

target replacement rate?

Solution: a. Fred`s last year salary of $50,000 has a real growth rate of 0%, hence it will keep up with inflation

until retirement but not beat it. At retirement, he would have worked foor the company for a total of forty years.

목차 Chapter 1: Financial Economics

Chapter 2: Financial Markets and Institutions

Chapter 3: Managing Financial Health and Performance

Chapter 4: Allocating Resources Over Time

Chapter 5: Household Saving and Investment Decisions

Chapter 6: The Analysis of Investment Projects

Chapter 7: Principles of Market Valuation

Chapter 8: Valuation of Known Cash Flows: Bonds

Chapter 9: Valuation of Common Stocks

Chapter 10: Principles of Risk Management

Chapter 11: Hedging, Insuring, and Diversifying

Chapter 12 Portfolio Opportunities and Choice

Chapter 13: Capital Market Equilibrium

Chapter 14: Forward and Futures Markets

Chapter 15: Markets for Options and Contingent Claims

Chapter 16: Financial Structure of the Firm

Chapter 17: Real Options

[문서정보]

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