✔ 最佳答案
Use Excel Formula to calculate using the function FV(rate,nper,pmt,pv,type) as below:
Type the following in column A and B of Excel worksheet:
Payment per Month (PMT)-------------------------2000
Number of Years---------------------------------------40
Total No. of Pmt.-------------------------------------- =$B$2*12
Return per year (IRR)---------------------------------=(0.05)/12
Admin Fee in %-----------------------------------------0.01
Return per year (IRR)-Admin Fee----------------=(0.05-$B$5)/12
Future value (FV) (no admin fee)---------------- =FV($B$4,$B$3,$B$1)
Future value (FV) (with admin fee)---------------=FV($B$6,$B$3,$B$1)
Difference-------------------------------------------------=B8-B9
***********************************************************************************
You will find the results as below:
Payment per Month (PMT)-------------------------2000
Number of Years---------------------------------------40
Total No. of Pmt.---------------------------------------480
Return per year (IRR)---------------------------------0.4167%
Admin Fee in %-----------------------------------------1%
Return per year (IRR)-Admin Fee----------------0.3333%
Future value (FV) (no admin fee)-----------------(HK$3,052,040.31)
Future value (FV) (with admin fee)---------------(HK$2,363,922.68)
Difference--------------------------------------------------(HK$688,117.63)
2007-07-20 00:34:19 補充：
Future Value (Annuity) = (2000) * [(1+r)^n-1]/(r) where r is the return rate with or without admin fee, i.e. 5%/12 or (5-1)%/12;n is the number of payment.
