Análise de Opções de Investimento

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Ahmed Nawfal Copyright © 2013 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 15/e, Solutions Manual (For Instructor Use Only) 6-51 
PROBLEM 6-5 (Continued) 
 
(d) Time diagram: 
i = 21/2% per quarter 
 
 PV – OA = R = 
 ? $1,500 $1,500 $1,500 $1,500 
 PV – OA = R = 
 ? $4,000 $4,000 $4,000 
 
 
 0 1 11 12 13 14 36 37 
n = 12 quarters n = 25 quarters 
 
 Formulas: 
 PV – OA = R (PVF – OAn,i) PV – OA = R (PVF – OAn,i) 
 PV – OA = $4,000 (PVF – OA12, 21/2%) PV – OA = $1,500 (PVF – OA37–12, 21/2%) 
PV – OA = $4,000 (10.25776) PV – OA = $1,500 (23.95732 – 10.25776) 
 PV – OA = $41,031 PV – OA = $20,549 
 
 The present value of option (d) is $41,031 + $20,549, or 
$61,580. 
 
 Present values: 
(a) $55,000. 
(b) $62,357. 
(c) $64,315. 
(d) $61,580. 
 
Option (c) is the best option, based upon present values alone.