Mavzu: Kredit operatsiyalari. Qarzni qoplash. Reja

2.10-Misol. Harajati $1200 000, daromadlari $50 000, $200 000, $450 000, $500 000, $600 000 bo‘lgan loyihaning ichki daromad stavkasini aniqlang?
Berilgan: = 50 000; = 200 000;= 450 000; = 500 000; = 600 000; IC = 1 200 000; n = 5.
Topish kerak: IRR = ?
Yechish: 5% stavka bo‘yicha: bevosita (2.6) matematik formula yordamida hisoblash:
NPV(5%)=47619+181406+388767+411351+470116-1200000=299219.
Ichki daromad stavkasini hisoblaymiz:
IRR = 5+299259/(299259-(-125228))*(15-5) = 12.005.
Demak, loyihaning ichki daromad stavkasi 12.05% ekan. Hisoblash aniqligi tanlangan stavkalar orasidagi intervalga teskari proporsional bo‘lgani uchun foiz stavkasining aniqligini oshirish uchun interval uzunligini 1% deb olinadi. Ushbu mulohazadan kelib chiqqan holda yuqoridagi misolda stavka qiymatini aniqlashtiramiz:
Bevosita matematik formula yordamida hisoblash:
NPV(11%)=45045+162324+329036+329365+356071-1200000=21841. NPV(12%)=44643+159439+320301+317759+340456-1200000=-17402.
IRR = 11+21841/(21841-(-17402))*(12-11) = 11.56.
Excelning moliyaviy funksiyalar paketi yordamida hisoblash:
NPV(11%) = ЧПС(0.11;50000; 200000;450000,500000,600000) - 1200000 = 1221841 – 1200000 = 21841.
NPV(12%) = ЧПС(0.12;50000; 200000;450000,500000,600000) - 1200000 = 1182598 – 1200000 = -17402.
Demak, 11.56% stavka investitsion loyihani qoplashning yuqori chegarasi ekan.
Mustaqil yechish uchun masalalar
16. Reja bo‘yicha yillik tushum qiymati $40 000 bo‘lgan 4 yilga mo‘ljallangan, foyda me’yori 8% dan iborat bo‘lgan $100 000 mablag‘li investitsion loyihani baholang.
17. Besh yil davomida yillik tushumlar qiymati mos ravishda $40 000, $50 000, $60 000, $80 000, $90 000 va bank foizi 10% bo‘lganda $100 000 qiymatli investitsiyani qoplash muddatini aniqlang?
18. Besh yil davomida yillik tushumlar qiymati mos ravishda $250 000, $450 000, $500 000, $700 000, $800 000 va bank foizi 8% bo‘lganda $1000 000 qiymatli investitsiyani qoplash muddatini aniqlang?
19. Besh yil davomida yillik tushumlar qiymati mos ravishda $45 000, $150 000, $550 000, $450 000, $500 000 bo‘lganda $1500 000 qiymatli loyihaning ichki daromad stavkasini aniqlang?
20. Besh yil davomida yillik tushumlar qiymati mos ravishda $50 000, $100 000, $450 000, $600 000, $800 000 bo‘lganda $1400 000 mablag‘li loyihaning ichki daromad stavkasini aniqlang?