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Www Refinanceloanshomeequity C Refinance Szh Zongyipian 3660 Yulebaifenbai Refinance Loans Home Equity 财务金融建模—图表(39xls) －元妙企业管理网

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G UP THE FINANCIAL STATEMENT MODEL Interest paid on cash & marketable securities <-- =C40-C29-C33 <-- =C33-C32 <-- =C33+C29+C28 <-- =B37 <-- =B39+C25 <-- =SUM(C36:C39) FIRST FINANCIAL MODEL Free cash flow Add back depreciation Add back increa…………
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Refinanceloanshomeequity .00 solver_drv 1.00 solver_eng 1.00 solver_eng 1.00 solver_est 1.00 solver_est 1.00 solver_ibd 2.00 solver_ibd 2.00 solver_itr 100.00 solver_itr 100.00 solver_lhs1 solver_lhs1 solver_lhs2 solver_lhs2 solver_lhs3 solver_lhs3 solver_lhs4 solver_lhs4 solver_lhs5 solver_lhs5 solver_lin 2.00 solver_lin 2.00 solver_lva 2.00 solver_lva 2.00 solver_mip 1000.00 solver_mip 1000.00 solver_neg 2.00 solver_neg 2.00 solver_nod 1000.00 solver_nod 1000.00 solver_num 2.00 solver_num 2.00 solver_nwt 1.00 solver_nwt 1.00 solver_ofx 2.00 solver_ofx 2.00 solver_opt solver_opt solver_pre 1.00E-06 solver_pre 1.00E-06 solver_pro 2.00 solver_pro 2.00 solver_rel1 3.00 solver_rel1 3.00 solver_rel2 2.00 solver_rel2 2.00 solver_rel3 3.00 solver_rel3 3.00 solver_rel4 3.00 solver_rel4 3.00 solver_rel5 3.00 solver_rel5 3.00 solver_reo 2.00 solver_reo 2.00 solver_rep 2.00 solver_rep 2.00 solver_rhs1 .00 solver_rhs1 .00 solver…………
Select (NOT IN BOOK) Numeric If (NOT IN BOOK) Page 394-396 Comparing 399 Page 398 Page 396 Page 395 Page 393 Page 392 Page 390-391 Page 384, Benny Binomial BlockIf Function1 HomeBinom HomeFactorial NestedIf NewMistake NumericIf SelectDemo SelectDemo1 SelectDemo2 SelectDemo3 SimpleIf SimpleIf2 SimpleIf3 simpleselect Function1 Functions in Action Parameter NumericIf() Simple If in Action Numeric If in Action BlockIf() in Action P1 P2 x n Home team Excel N Recursion In Action p Ben <-- =SelectDemo(A4) SelectDemo SelectDemo1 X NewMistake In Action Y NewMistake <-- =NewMistake(A4,B4) <-- =NewMistake(A5,B5) <-- =NewMistake(A6,B6) <-- =NewMistake(A7,B7) #NULL! In Action <-- =SUM(A12:A14 B12:B14) <-- =SUM(A12:A14,B12:B14) <-- =SUM(A12:B14) #VALUE! In Action <-- =A19+A20+A21 <-- =SUM(A19:A21) #NAME! In Action <-- =Benny+3 #NUM! In Action #N/A In Action <-- =VLOOKUP(2,A39:A42,1) <-- =VLOOKUP(2,A39:A42,1,FALSE) <-- =VLOOKUP(2,A39:A42,1,TRUE) <-- =IRR(A34:A36,0.1) SimpleSelect In Action <-- Notice it"s 222 and not 444 SelectDemo In Action SelectDemo1 In Action Parameter1 <-- =SelectDemo1(A14,B14) Parameter2 SelectDemo2 In Action <-- =SelectDemo2(A24) SelectDemo3 In Action <-- =SelectDemo3(A34)…………
1981 term structure 1947 term structure term structure data __123Graph_A __123Graph_B __123Graph_C __123Graph_D __123Graph_E __123Graph_F _2D_ARRY _2D_LABX _2D_RNGA _2D_RNGB _2D_RNGC _2D_RNGD _2D_RNGE _2D_RNGF _2D_RNGG _2D_RNGH _2D_RNGI _2D_RNGJ _2D_RNGK _2D_RNGL _Fill _Regression_Int 1.00 _Regression_Out _Regression_X _Regression_Y CHECK1 COLUMN COLUMNS COUNT DATA DATA2 DATA2_H DATES FIRST MAX Print_Area_MI ROW START TITLE1 TITLE2 McCullogh"s Term Structure Data Set date 0mo 1mo 2mo 3mo 4mo 5mo 6mo 9mo 1yr 2 yr 3yr 4yr 5yr 10yr 15yr 20yr 25yr 12.1946 1.1947 2.1947 3.1947 4.1947 5.1947 6.1947 7.1947 8.1947 9.1947 10.1947 11.1947 12.1947 1.1948 2.1948 3.1948 4.1948 5.1948 6.1948 7.1948 8.1948 9.1948 10.1948 11.1948 12.1948 1.1949 2.1949 3.1949 4.1949 5.1949 6.1949 7.1949 8.1949 9.1949 10.1949 11.1949 12.1949 1.1950 2.1950 3.1950 4.1950 5.1950 6.1950 7.1950 8.1950 9.1950 10.1950 11.1950 12.1950 1.1951 2.1951 3.1951 4.1951 5.1951 6.1951 7.1951 8.1951 9.1951 10.1951 11.1951 12.1951 1.1952 2.1952 3.1952 4.1952 5.1952 6.1952 7.1952 8.1952 9.1952 10.1952 11.1952 12.1952 1.1953 2.1953 3.1953 4.1953 5.1953 6.1953 7.1953 8.1953 9.1953 10.1953 11.1953 12.1953 1.1954 2.1954 3.1954 4.1954 5.195…………
Page 351b (中文) Page 351b Page 351（中文） Page 351 marker x y y x =IF(marker<>0,marker,(x-2)/4) =(10-3*y)/2 GAUSS-SEIDEL METHOD--SOLUTION BY ITERATIVE SUBSTITUTION =(E4-2)/4 =(10-3*D5)/2 GAUSS-SEIDEL METHOD--SHORTCUT Marker To start the recalculation, let Marker = 0. To start the recalculation, let Marker = 0. 高斯-塞德尔方法--迭代求解高斯-赛得尔方法--简便 Page .00 .55 .00 2.00 4.00 4.18 10.00 3.00 2.00 Page 1.00 1.00 .00 2.00 4.00 3.50 10.00 3.00 2.00 UN-21A .00 5.00 10.00 3.00 2.00 .75 2.00 4.00 3.88 10.00 3.00 2.00 .47 4.30 .57 4.14 .53 4.20 .55 4.18 .54 4.18 .55 4.18 .55 4.18 .55 4.18 .55 4.18 .55 4.18 UN-21A .00 5.00 .75 3.88 .47 4.30 .57 4.14 .53 4.20 .55 4.18 .54 4.18 .55 4.18 .55 4.18 .55 4.18 .55 4.18 .55 4.18…………
Page 75-78 (中文) Page 75-78 Page 71-73 (中文) Page 71-73 Page 71 (中文) Page 71 Page 70 (中文) Page 70 FARMERS BAGELS, INC. Current assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses and other current assets Property and equipment At cost Less accumulated depreciation Net property and equipment Total assets Current liabilities Accounts payable and accrued expenses Income taxes payable Other current liabilities Long-term debt Stockholders" equity Common stock Retained earnings Total liabilities and equity Income statement Sales Product sales Other income Total sales Operating expenses Cost of products sold Depreciation Selling, general, and administrative expenses Interest expense Interest income Earnings before income taxes Provision for income taxes Profit after taxes FARMERS BAGELS: FREE CASH FLOWS FOR 1995-1996 Add back depreciation Add back interest expenses, net of taxes Subtract interest costs, net of taxes Free Cash Flow FARMERS BAGELS, INC. Ratio Analysis New property and equipment at cost, % of new sales Income taxes payable (as % of income tax) Provision for income taxes (as % of earnings before taxes) FARMERS BAGELS PROJECTED SALES year sales Predic…………
Page 335 (中文) Page 335 Page 333 chart Page 332 (中文) Page 332 Page 331 (中文) Page 331 Page 330b (中文) Page 330b Page 330, (中文) Page 330, Page 329 (中文) Chapter25_code Page 329 benny benny eelapsed eelapsed elapsed elapsed ooutput ooutput output output output output rruns rruns runs runs runs runs sbenny sbenny sstarttime sstarttime sstoptime sstoptime starttime starttime stoptime stoptime Most Elementary Random List Runs Output Random numbers Bin Frequency Uniformly Distributed Random Numbers Using VBA"s Rnd function Starttime Stoptime Elapsed To replace the random numbers, Tools|Data Analysis|Random Number Generation More <-- This cell is named "output," and this name is used in the VBA routine in clearing previous results. USING EXCEL"S FREQUENCY FUNCTION Each cell contains thefunction Rand(). Each time you updatethe spreadsheet or press F9 the block ofcells will produce a new set of randomnumbers. <-- Rand() To run VBA "randomlist": press [Ctrl]+q Each cell in the range A5:A14 contains the formula Rand(). Pressing F9 will produce a new set of random numbers and frequencies. To run VBA program "uniformrandom", use [Ctrl]+a . Sub randomlist() "Produces a simple list of random numbers…………
Data for page 40 Page 40 (中文) Page 40 Page 39g (中文) Page 39g Page 39 (中文) Page 39 Page 35（中文） Page 35-36 (中文) Page 35-36 Page 34 (中文) Page 34 Page 33(中文） `Page 33 Page 30－32 (中文) Page 30－32 Page 29 (中文) Page 29 Page 26 (中文) Page 26 Pages 26-28 (中文) Pages 26-28 Page 25 (中文) Page 25 Page 24 (中文) Page 24 Page 23 (中文) Page 23 Page 22-23 (中文) Page 22-23 Date High <-- Ending 1998 share price P0 Gordon model D0 rE Risk premium Risk free rate Compound growth, 10 yr. Compound growth, 5 yr. 10-yr. growth 5-yr. growth <-- =COVAR(C5:C124,G5:G124)/VARP(C5:C124) Classical CAPM cost of equity Benninga-Sarig tax-adjusted CAPM Corporate tax <-- =J9+J5*J8 Number of shares, end 1998 Share price, end 1998 Market value of equity, end 1998, $billion Calculation of end-1998 market value of equity End-1998 value of debt (book value of debt assumed = market value) Long-term debt Short-term debt and current portion of long-term debt Total debt Less cash and cash equivalents Less investment securities Net debt, $billion Enterprise value = equity + debt, $billion COST OF CAPITAL CALCULATIONS Using Gordon model % of equity % of debt Cost of equity Cost of debt 1998 interest expense WACC Using the CAPM 1997 fig…………
chapter examples Page 325 chart Data for page 319 Page 324b chart Data for page324b Page 324 chart Data for page 324 Page 323 chart Data for page 323 Page 323 (中文) Page 323 c_ c_ c_ c_ c_ c_ c_ M M M M M M M r_ r_ r_ r_ r_ r_ r_ T_ T_ T_ T_ T_ T_ T_ tt tt tt tt tt tt tt T c M r Payments per year g <-- =(c_/r_*(1-EXP(-r_*(M-T_)))+EXP(-r_*(M-T_)))/(c_/0.08*(1-EXP(-0.08*(M-T_)))+EXP(-0.08*(M-T_))) Duration--continuous time <-- =(EXP(r_)*(-c_+c_*EXP(M*r_)-c_*M*r_+M*r_^2))/(r_*(-c_+c_*EXP(M*r_)+r_)) Using Excel to automatically adjust the graph titles Case <-- =IF(AND(r_<8%,c_r_),2,IF(AND(r_>8%,c_>8%),3,4))) Graph title ="Case "&B13&": "&" r = "&B5&", "&IF(B5<8%," max "," min ")&"c = "&B3 =B7, but hidden Data Table Duration =B9, but hidden Step =C22+$B$22 情形情形用EXCEL自动调整图形名称每年支付久期-持续时间图形名称模拟运算表 UN-17B 2.00 .02 25.00 .18 4.00…………
Data for page 99 Page 99 Page 98 (中文) Page 98 Page 97 (中文) Page 97 Page 96 (中文) Page 96 Page 94,, (中文) Page 94,, Page 94, Page 93, bottom Page 93 Page 92（中文） Page 92 solver_adj solver_adj solver_adj solver_adj solver_cvg 1.00E-04 solver_cvg 1.00E-04 solver_cvg 1.00E-04 solver_cvg 1.00E-04 solver_drv 1.00 solver_drv 1.00 solver_drv 1.00 solver_drv 1.00 solver_est 1.00 solver_est 1.00 solver_est 1.00 solver_est 1.00 solver_itr 100.00 solver_itr 100.00 solver_itr 100.00 solver_itr 100.00 solver_lin 2.00 solver_lin 2.00 solver_lin 2.00 solver_lin 2.00 solver_neg 2.00 solver_neg 2.00 solver_neg 2.00 solver_neg 2.00 solver_num .00 solver_num .00 solver_num .00 solver_num .00 solver_nwt 1.00 solver_nwt 1.00 solver_nwt 1.00 solver_nwt 1.00 solver_opt solver_opt solver_opt solver_opt solver_pre 1.00E-06 solver_pre 1.00E-06 solver_pre 1.00E-06 solver_pre 1.00E-06 solver_scl 2.00 solver_scl 2.00 solver_scl 2.00 solver_scl 2.00 solver_sho 2.00 solver_sho 2.00 solver_sho 2.00 solver_sho 2.00 solver_tim 100.00 solver_tim 100.00 solver_tim 100.00 solver_tim 100.00 solver_tol .05 solver_tol .05 solver_tol .05 solver_tol .05 solver_typ 3.00 solver_typ 3.00 solver_typ 3.00 solver_typ 3.00 solver_val…………
Page376-377 (中文) Page376-377 Page 375-376 (中文) Page 375-376 Page 374 (中文) Page 374 Page 373 Section 371 (中文) Section 371 Page 370 bottom (中文) Page 370 bottom Page 70 top (中文) Page 370 top Page 369, (中文) Page 369, tax 税 Double-clicking on the "fill handle" of a cell will fill in the rest of the column provided there‘s a filled cell next to it. Growth Year Cash flow <-- B6*(1+$B$3) Hint: To put in a new line, use [Alt]+[Enter] (this creates the little box you see in cell D21) <-- B3+3 PUTTING LINE BREAKS IN CELLS NAMED CELLS Income Tax rate Tax paid Sales Margin Profit <-- =Sales*Margin <-- =B4*B3 <-- iWww Refinanceloanshomeequity C Refinance Szh Zongyipian 3660 Yulebaifenbai Refinance Loans Home Equity 财务金融建模—图表(39xls) －元妙企业管理网z x y Refinance Loans Home Equity h Refinance Loans Home Equity Refinance Loans Home Equity Refinance Loans Home Equity jWww Refinanceloanshomeequity C Refinance Szh Zongyipian 3660 Yulebaifenbai Refinance Loans Home Equity 财务金融建模—图表(39xls) －元妙企业管理网y g g g Home Refinance Loans Home Equity Program