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•
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•
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VA = R 1
+ R 2
+ ...+ R =∑ R
n
n
j

1+ r (1+r ) (1+r ) (1+r )

2 n j
j=1
•

VAN =∑
n
R j
K
(1+r )
j
j=1

n
VA =∑
R K n
∑
j j

(1+r ) (1+r )
j j
j=1 j=1
 VAN
Q=
K
 VAN
Q=
m
K
∑ j

(1+r )
j
j=0
 K

K+ R 1
1+ r

K+ R1
+ R 2
1+ r (1+r )
2

K+ R 1
+ R + R 2 3
1+ r (1+r ) (1+r )
2 3

K+ R 1
+ R + R + R
2 3 4
1+ r (1+r ) (1+r ) (1+r )
2 3 4
 λ

K =∑
n
R
(1+λ )
j
j
j=1

m
K = R n
∑ ∑
(1+λ ) (1+λ )
j j
j j
j=1 j=1

n
0 =∑
R
(1+λ )
j
j K
j=1

λ
 Vn = f (n, H ) Vn = K .α .β
n H

α β

( )
αβ
n
Vn = K .α .β = K . α .β h
n hxn
 A +∑n
i=1 C i R (t )
c g
(t ) =
t
 n
VAN =∑
R n
B + V
VAN ( j ) = V +∑
j j j
K
(1+r ) (1+r ) (1+r )
j 0 j j
j=1 j=1
•
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