摘要
为了研究垫资承包工程的合理性,从资金时间价值的角度出发,运用函数极限的思想和等比、等差数列基本公式推导出了递减等比序列和递减等差序列的间断现金流连续复利现值计算公式,再分别引入一个工程实例进行分析计算。计算结果表明间断复利计算得到的净现值比连续复利计算得到的净现值要大,即连续复利计算的终值比间断复利计算的终值要大,所以连续复利计算资金时间价值更符合实际情况。同时说明,垫资承包工程用连续复利计算资金时间价值计算才能避免决策失误。
To analyze the reasonability of contracting with funds in architectural engineering,this paper starts from the perspective of capital time value and adopts the idea of function limit and the basic formulas of geometrical sequence and arithmetical sequence to deduce the geometrical sequence and arithmetical sequence cash flow＇s continuous compound interest net present value calculation formula. An engineering case study was conducted for formula demonstration. The calculation results show that the net present value calculated by discontinuous compound interest is greater than the net present value calculated by continuous compound interest. Therefore, the time value of money calculated by continuous compound interest could better suit practical situation. The capital time value of contracting with funds in architectural engineering,as calculated by continuous compound interest,could avoid decision-making errors.
出处
《工程管理学报》
2014年第6期38-42,共5页
Journal of Engineering Management
基金
中央高校基本科研业务费专项资金项目(212097)
长江学者和创新团队发展计划项目(IRT1139)
关键词
资金时间价值
连续复利
工程投标
垫资施工
time value of money
continuous compound interest
project bidding
advance-found construction
