你一會兒NPV， 一會IRR。 看這兩個cases 你怎麽解釋
loan=700, loan interest=20%, donwpayment=300, rent=200/yr, sell 900 at year 7
Case 1: Term=5 years, mortgage payment=234. IRR=15%
| $1,000.00 | |||||||
| Down | Payment | Loan | Interest | Principal | Rent | Cash Flow | |
| 0 | $300 | $700.00 | 0 | ||||
| 1 | 234.07 | 605.93 | 140.00 | 94.07 | $200 | -$34.07 | |
| 2 | 234.07 | 493.06 | 121.19 | 112.88 | $200 | -$34.07 | |
| 3 | 234.07 | 357.60 | 98.61 | 135.45 | $200 | -$34.07 | |
| 4 | 234.07 | 195.05 | 71.52 | 162.55 | $200 | -$34.07 | |
| 5 | 234.07 | 0.00 | 39.01 | 195.05 | $200 | -$34.07 | |
| 6 | 0.00 | 0.00 | 0.00 | 0.00 | $200 | $200.00 | |
| 7 | 0.00 | 0.00 | 0.00 | 0.00 | $900 | $900.00 | |
| NPV | $0.00 |
case 2: Term=25, mortgage payment=141, IRR=9%
| $1,000.00 | |||||||
| Down | Payment | Loan | Interest | Principal | Rent | Cash Flow | |
| 0 | $300 | $700.00 | 0 | ||||
| 1 | 141.48 | 698.52 | 140.00 | 1.48 | $200 | $58.52 | |
| 2 | 141.48 | 696.74 | 139.70 | 1.78 | $200 | $58.52 | |
| 3 | 141.48 | 694.60 | 139.35 | 2.14 | $200 | $58.52 | |
| 4 | 141.48 | 692.04 | 138.92 | 2.56 | $200 | $58.52 | |
| 5 | 141.48 | 688.96 | 138.41 | 3.08 | $200 | $58.52 | |
| 6 | 141.48 | 685.27 | 137.79 | 3.69 | $200 | $58.52 | |
| 7 | 141.48 | 680.84 | 137.05 | 4.43 | $900 | $77.67 | |
| NPV | $0.00 |
大家幫我買房，到地是IRR越大越好還是越小越好？
