1 1 1 P W = + + + + B 2 n 1 n ( 1+ i) ( 1+ i) ( 1+ i) ( 1+ i) n 1 P = + ( ) t n t= 1 ( 1+ i) ( 1+ i)

n P C = + ( ) t n t = 1 1 ( 1+ x) ( 1+ x) P C 1+ X = n ( ) C + P 2 8 X = + ( 100 95) / 10 = 0. 0872 ( 95+ 100) / 2 E = R 100 C

E = = 8% 95 8 42%. ( ) E R P C n C = + 100

= + + RW RW R ( A) t = ( 1+ ) 0 n 1 1 P, w ( B) k + n 1 k= 1 ( 1 + i) ( 1+ i)

+

cov erage = 5 ( 1 50% ) 1 10% = 6 cov erage = 2 20% 50 ( 1 50% ) 5 10% cov erage = = 6125. 4 10%

P 1, P 2 P n

1 1 2 2 n W P + W P + + W P 1 2 W + W + + W n n n j 1 = = n W P j= 1 W

T = P T + + P S = P S 1 1 n n n i i i= 1

1 P0 Pt n Pt P 0 P Q p Q t t, t t

T T + K 100 = 100 T 0 T n T T + K = T 0 T + T n T K T = + n T T 0 90, 000 100 = 112.. 5 80, 000 90000 + 1000 80, 000 100 = 112. 5 80889 94, 000 100 = 116. 2 80, 889 ( Y ) = D R Y = ( 1 + ) n P + RV

( ) = = = = 365 ( ) 40500 367 71 108. =

= = ) ( = = + 1 2 = 365

= = 365

( ) = = + + =

( ) = ( ) = ( ) = + =

= + + = = + + = = = =

= = = = + + =