Refinance Loans Home Equity Refinance Loans Home Equity Refinance Loans Home Equity

Www Refinanceloanshomeequity Tag 125%25 Refinance Loans Home Equity ²ÆÎñ½ðÈÚ½¨Ä£¡ªÍ¼±í(39xls) £­ÔªÃîÆóÒµ¹ÜÀíÍø

Www Refinanceloanshomeequity Tag 125%25 Refinance Loans Home Equity

125%25 Bsearch Www o Refinanceloanshomeequity t Www nsearchs searcha Tag l searchx 125%25 rcsearchs£ Www ÖÎsearch)E Tag r Www ysearchexrc Tag s 125%25 searchae2 Www 5 Www ¨searchÐsearchÄ Www © Tag P 125%25 g search6 asearche2 Tag 4ÖÐ 125%25 Ä Www ©P Www gsearch 24 Refinanceloanshomeequity g Refinanceloanshomeequity t Www osearchmsearchlasearchisearcht Www rsearchs 125%25 ner Tag s Tag Refinanceloanshomeequity nsearchersearchssearch Refinanceloanshomeequity Tag 125%25 Www usearchpsearcht Tag osearcht Tag u osearcht Tag u Refinanceloanshomeequity Tag Tag S Refinanceloanshomeequity Si 125%25 msearch i Refinanceloanshomeequity ma 125%25 i Refinanceloanshomeequity maT Www TT X Tag XsearchX Refinanceloanshomeequity qsearch d searchon 125%25 r 125%25 c 125%25 1+search( Refinanceloanshomeequity t) Refinanceloanshomeequity Tsearcht=search = Refinanceloanshomeequity .25 Www tsearch0.5 t=search.75 Refinanceloanshomeequity t Refinanceloanshomeequity 1 Tag S 125%25 X S Www ga nr Tag BS 125%25 <-- (LN(S/X)+(r+0.5*sigma^2)*T)/(sigma*SQRT(T)) Interest, r Graph title: values of n change. The formula in cell J5 is: ="American Put Early Exercise Boundary, n = "&TEXT(n,"0") To learn more about how to do this, see Chapter 30. d1 d2 <-- d1 - sigma*SQRT(T) N(d1) N(d2) <-- S*N(d1)-X*exp(-r*T)*N(d2) ²¼À³¿Ë-˹¿Æ¶û˹(B-S)ÆÚȨ¶¨¼ÛÄ£ÐÍ µ±Ç°¹ÉƱ¼Û¸ñ Ö´Ðм۸ñ ÎÞ·çÏÕÀûÂÊ ÆÚȨµÄµ½ÆÚʱ¼ä£¨Ä꣩ ¹ÉƱµÄ²¨¶¯ÐÔ <-- ʹÓõĹ«Ê½NormSDist(d1) <-- ʹÓõĹ«Ê½NormSDist(d2) ¿´ÕÇÆÚȨ¼Û¸ñ ¿´µøÆÚȨ¼Û¸ñ <-- ¿´ÕÇÆÚȨµÄ¼Û¸ñ - S + X*Exp(-r*T):¸ù¾Ý¿´ÕÇ-¿´µøÆÚȨƽ¼Û ¹ÉƱ ÄÚÔÚ ¼Û¸ñ ¼ÛÖµ µ±¹ÉƱ¼Û¸ñµÍʱ£¬¿´µøÆÚȨµÄ²¼À³¿Ë-˹¿Æ¶û˹£¨B-S£©¼ÛֵСÓÚÄÚÔÚ ¼ÛÖµ¡£Èç¹ûÎÒÃÇÌáÇ°Ö´ÐУ¬¸ÃÆÚȨµÄ¼ÛÖµ¿ÉÄÜ»áÔö¼Ó¡£Òò´Ë£º ¶Ô¸Ã¿´µøÆÚȨÌáÇ°Ö´ÐпÉÄÜÊÇÓмÛÖµµÄ¡£ ÎåʱÆÚµÄÃÀ¹ú¶þÏî¿´µøÆÚȨµÄ¶¨¼Û ÉÏÕÇ ×´Ì¬¼Û¸ñ ϵø ³õʼµÄ¹ÉƱ¼Û¸ñ ×¢Òâ: ÆÚ¼äT = 1±»·Ö³É4¸ö×ÓÆÚ¼ä ÿ¸öÆÚ¼äµÄ"ÉÏÕÇ"¶¨ÒåΪexp[s*Dt]-1 "ϵø"¶¨ÒåΪexp[-s*Dt]-1,ÕâÀï s = 40%,ÿ¸ö×ÓÆڼ佫8%µÄÄêÀûÂÊ ·ÖɢΪexp[8%/4] -1 ¹ÉƱ¼Û¸ñ£º»­È¦µÄµ¥Ôª¸ñ±íʾִÐиÃÆÚȨ ÃÀ¹úʽ¿´µøÆÚȨµÄ¼Û¸ñ Å·ÖÞʽ¿´µøÆÚȨµÄ¼Û¸ñ Ò»¸öÃÀ¹ú¿´µøÆÚȨµÄÌáÇ°Ö´ÐнçÏÞ °´[Ctrl]+aÔËÐкêÃüÁî ¿´µøÆÚȨִÐм۸ñ ÀûÂÊ Note: This graph title is dynamic--it changes with Ö´ÐÐʱ¼ä <-- Òâ˼ÊÇDt = T/n ʱ¼ä ÌáÇ°Ö´ÐÐ ½çÏÞ FIVE DATE AMERICAN BINOMIAL PUT OPTION PRICING Note: The period T = 1 is divid¡­¡­¡­¡­
Page 437 Page 427-436 ConcatDemo MsgBoxDeafault MsgBoxDemo MsgBoxOKCancel PVCalculator SayHi MsgBoxDeafault() MsgBoxOKCancel() MsgBoxDemo() PVCalculator() SayHi() Macros in this Workbook ConcatDemo in Action Parameter1 Parameter2 <-- =ConcatDemo(A4,B4) Ben Jerry <-- =ConcatDemo(A5,B5) <-- =ConcatDemo(A6,B6) <-- =ConcatDemo(A7,B7) 1.00 2.00 12 BenJerry 1.00 Ben1 2.00 Jerry2 Function¡®s first reference is on page 437 Function ConcatDemo(Parameter1, Parameter2) ConcatDemo = Parameter1 & Parameter2 End Function Placing the cursor on a cell with a small red triangle in the corner will show you the source code of the Macro or Function To edit the code you may press [Alt-F11] and look for a module called Chapter. The Macro or Function should be in it. Function¡®s first reference is on page 437 Function ConcatDemo(Parameter1, Parameter2) ConcatDemo = Parameter1 & Parameter2 End Function Function¡®s first reference is on page 437 Function ConcatDemo(Parameter1, Parameter2) ConcatDemo = Parameter1 & Parameter2 End Function Function¡®s first reference is on page 437 Function ConcatDemo(Parameter1, Parameter2) ConcatDemo = Parameter1 & Parameter2 End Function ½«¹â±ê·ÅÔÚµ¥Ôª¸ñСºìÈý½ÇÉÏ£¬½«ÏÔʾº¯ÊýµÄÔ´´úÂë¡£Òª±à¼­¸ÃÔ´´úÂ룬Äã¿ÉÒÔ°´ [¡­¡­¡­¡­
Page 67-68 (ÖÐÎÄ) Page 67-68 Page 66 (ÖÐÎÄ) Page 66 Page 62-63 (ÖÐÎÄ) Page62-63 Page 61-62 (ÖÐÎÄ) Page 61-62 Page 59 (ÖÐÎÄ) Page 59 Page 58 (ÖÐÎÄ) Page 58 Page 57(ÖÐÎÄ) Page57 Page 52 (ÖÐÎÄ) Page 52 Page 49-56(ÖÐÎÄ) Page 49-56 Page 44-46 (ÖÐÎÄ) Page 44-46 Sales growth Current assets/Sales Current liabilities/Sales Net fixed assets/Sales Costs of goods sold/Sales Depreciation rate Tax rate Dividend payout ratio Year Income statement Sales Costs of goods sold Depreciation Profit before tax Taxes Profit after tax Dividends Retained earnings Balance sheet Current assets Fixed assets At cost Depreciation Net fixed assets Total assets Current liabilities Debt Stock Accumulated retained earnings Total liabilities and equity Cash and marketable securities Total Interest rate on debt <-- =B16*(1+$B$3) Interest payments on debt <-- =-C16*$B$7 <-- =SUM(C16:C20) <-- =-C21*$B$11 <-- =C22+C21 <-- =-$B$12*C23 <-- =C24+C23 <-- =C16*$B$4 <-- =C16*$B$6 <-- =C16*$B$5 <-- =B38 SETTING 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¡­¡­¡­¡­
Data for page 156,157 chart Page 157 (ÖÐÎÄ) Page 157 Page 156 (ÖÐÎÄ) Page 156 Page 154-155 (ÖÐÎÄ) Page 154-155 constant constant epsilon getformula Portfolio_mean Portfolio_mean Portfolio_sigma Portfolio_sigma results results solver_adj solver_adj solver_cvg 1.00E-03 solver_cvg 1.00E-03 solver_drv 1.00 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 (ÖÐÎÄ) Page 351b Page 351£¨ÖÐÎÄ£© 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. ¸ß˹-ÈûµÂ¶û·½·¨--µü´úÇó½â ¸ß˹-ÈüµÃ¶û·½·¨--¼ò±ã 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 (ÖÐÎÄ) Page 75-78 Page 71-73 (ÖÐÎÄ) Page 71-73 Page 71 (ÖÐÎÄ) Page 71 Page 70 (ÖÐÎÄ) 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 (ÖÐÎÄ) Page 335 Page 333 chart Page 332 (ÖÐÎÄ) Page 332 Page 331 (ÖÐÎÄ) Page 331 Page 330b (ÖÐÎÄ) Page 330b Page 330, (ÖÐÎÄ) Page 330, Page 329 (ÖÐÎÄ) 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 (ÖÐÎÄ) Page 40 Page 39g (ÖÐÎÄ) Page 39g Page 39 (ÖÐÎÄ) Page 39 Page 35£¨ÖÐÎÄ£© Page 35-36 (ÖÐÎÄ) Page 35-36 Page 34 (ÖÐÎÄ) Page 34 Page 33(ÖÐÎÄ£© `Page 33 Page 30£­32 (ÖÐÎÄ) Page 30£­32 Page 29 (ÖÐÎÄ) Page 29 Page 26 (ÖÐÎÄ) Page 26 Pages 26-28 (ÖÐÎÄ) Pages 26-28 Page 25 (ÖÐÎÄ) Page 25 Page 24 (ÖÐÎÄ) Page 24 Page 23 (ÖÐÎÄ) Page 23 Page 22-23 (ÖÐÎÄ) 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 kWww Refinanceloanshomeequity Tag 125%25 Refinance Loans Home Equity ²ÆÎñ½ðÈÚ½¨Ä£¡ªÍ¼±í(39xls) £­ÔªÃîÆóÒµ¹ÜÀíÍøv r Refinance Loans Home Equity Refinance Loans Home Equity x Refinance Loans Home Equity Robot mWww Refinanceloanshomeequity Tag 125%25 Refinance Loans Home Equity ²ÆÎñ½ðÈÚ½¨Ä£¡ªÍ¼±í(39xls) £­ÔªÃîÆóÒµ¹ÜÀíÍør d h Refinance Loans Home Equity Refinance Loans Home Equity Refinance Loans Home Equity Refinance Loans Home Equity