Matemáticas Financieras, Produc 2

 

Jitmjéthois 3-9;-3;3;

Dhlilohmris [rbnuotb 35 ^isi N^D

Airhl Xhomtg [um``b Jirtêlmz ]LHTMS_HNIN HLN]_^SHI@ NM _IL^ILNMS 

 

Jitmjéthois Dhlilohmris

[rbnuotb 35 ^isi N^D

Mstunhiltm Airhl Xhomtg [um``b Jirtêlmz

^utbr  @uhs Drilohsob Gmrlélnmz Iomvmnb

]lhvmrshnin Hlnustrhi` nm _iltilnmr  Hlsthtutb nm [rbymoohÿl Smfhbli` y Mnuoiohÿl i Nhstilohi ^molb`bfêi Mjprmsirhi` _il I`cmrtb Omsir  3;3;

 

Bcemthvb

 Iprmlnmr m` oblomptb  Iprmlnmr oblomptb nm` nm` N^D y ip`hoir`b ip`hoir`b i` i` jilmeb nm `is dhlilzis dhlilzis nm` nm` Mstinb, Mstinb, m` Cilob nm `i Smpuc`hoi. I`   I` dhli`hzir dhli`hzir m` prbnuotb prbnuotb 3, tmlmr tmlmr `i oipiohnin oipiohnin nm oblomptuir oblomptuir sbcrm Hltmrès Lbjhli`, Mdmothvb y tisi N^D nmnuohr `bs jbnm`bs y oé`ou`bs jitmjéthobs qum `b sbpbrtil y ip`hoir mstm ml `is prhlohpi`ms bpmriohblms dhlilohmris

²Yuè ms m` N^D y piri què sm uth`hzi2 9) @is shf`is shf`is N^D sbl m` nhjhluthvb nhjhluthvb nm nmpÿshtb nmpÿshtb i tèrjhlb tèrjhlb dheb, m` m` oui` ms ms uth`hzinb nmltrb nm` shstmji dhlilohmrb ml Ob`bjchi, sm rmdhmrm i uli tisi nm hltmrès oi`ou`ini cieb m` jètbnb nm prbjmnhb pblnmrinb. @i N^D dum ormini obl m` bcemthvb nm tmlmr ul hlnhoinbr nm rmdmrmlohi nm `i mvb`uohÿl nm` obstb nm `bs rmoursbs nm obrtb p`izb ml `i moblbjêi ob`bjchili. Ms m` rmsu`tinb nm` prbjmnhb nm `is tisis nm oiptiohÿl i 8; nêis nm `is hlsthtuohblms dhlilohmris, pblnmrinis pbr m` jbltb oiptinb i nhogb p`izb. ^hmlm vhfmlohi nm shmtm nêis y sm oi`ou`i obl `is ohdris mltrm m` vhmrlms y m` eumvms nm `i smjili shfuhmltm.  I pirthr nm` 3;;; mjpmzÿ i smr uth`hzini uth`hzini piri piri hlnmxir hlnmxir `bs cblbs cblbs obrpbrithvb obrpbrithvbs s y nm mlthninms põc`hois i nhsthltbs p`izbs. Iõl jés hjpbrtiltm, `i dhlilohiohÿl nm `is mjprmsis i trivès nm` shstmji dhlilohmrb msté hlnmxini ml uli prbpbrohÿl sustilohi` i `i N^D, `b qum `m ni uli mspmohi` rm`mvilohi i msti tisi sbcrm m` iothvb nm` shstmji. 3) @umfb nm nm oblsu`tir oblsu`tir `i péfhli wmc wmc nm` Cilob Cilob nm `i Smpõc`hoi, Smpõc`hoi, rm`iohblin rm`iohblini i obl `i tisi nm hltmrès nm` smotbr dhlilohmrb, sm`moohblb `i bpohÿl ‐^isis nm Oiptiohÿl‚, bpohÿl ‐_mjili`ms y jmlsui`ms‚ y msobeb m` iroghvb5 ^isis nm oiptiohÿl smjili`ms - N^D, ON^ 97; nêis, ON^ ?4; nêis y ^OO Obl `is iltmrhbrms tisis vhstis, sm ishflÿ uli nm èstis, qum sm rm`iohbli ml m` shfuhmltm ouinrb, nblnm sm rmi`hziri m` prbomsb inmouinb i `i tisi N^D m`mfhni sujélnb`m `bs pultbs, qum sm rm`iohblil ml m` Ouinrb 9. @umfb oblvhmrtb nhogi tisi ml su mquhvi`mltm mdmothvi ilui`, rmoumrnm qum `i cism nm` N^D ms trhjmstri` ilthohpinb.

 

Ouinrb 9. Ishfliohÿl nm tisis y pultbs inhohbli`ms.

Nmsirrb``b

Nm Mdmothvi i Lbjhli` Ilui` ^rhjmstri` Ilthohpini

 

ND^ 4,;=% MI. + 99 []L^B_

NM MDMO^HTI I [MSHßNHOI

Q

 Hp : ( (9 + Hmd  ) )

(9 /l )

)

∓

Z

9 ∖9;;

Q

 Hp: ( (9 + ;,;4;= )

( 9/ > )

)

∓

Z

9 ∖9;;

 Hp :Q ( 9 , ;9>68? )∓9 Z∖9;;  Hp:9 , >68? trhjmstri`

NM [MSHßNHOI I [MSHßNHOI IL^HOH[INI

(

 Hpi :

  ;,;9 >68 >68? ? 9 + ;,;9>68?

)

∖9;;

 Hpi :( ;.;9>=66? )∖9;;

( )

  Hp  Hpi : ∖9;; 9 + Hp

 Hpi:9.>=66? trhjmstr trhjmstri` i` ilthohp ilthohpinb inb

NM [MSHB. IL^HOH[INI I LBJHLI@ IL]I@

 Hli : 9 , >=66?∖ >  Hli:=,7?;8 Lbj  Lbj.. Ilui`trhjmstr Ilui` trhjmstri` i` ilth .

 Hli: Hpi∖l

NHSMO^I MI ‟ LI (OBLDHSJIOHßL)

:

 Hli

Q

  l

∓

l

: >∓

∖

 Z

∕ 9 + Hmd  l

Q

 Hli : > ∓ >

9;;

 Hli

Q

 

>

.;4;= ;= ∕ 9 + ; .;4  

>

9 , ;9>68?

Z

∖9;;

∖9;;

Z

=.7?;8 ?;8 % LI^  Hli : =.7  LI^I I

 I `i ^isi ^isi Lbjhli` Lbjhli` Ilui` Ilthohpin Ilthohpini i sm `m sujil sujil `bs pultbs (9;)  N^D I^I I^I :=,7?;8 + 9 9 pultbs  N^D I^I: 94,7?;8% LI^  LI^I I

 

NM LBJHLI@ IL]I@ I [MSHB.

 Hpi :

94,7?;8 >

IL^HOH[INI  Hli  Hpi: l

 Hpi:> , 3;663=% trhj.ilthohpinni

NM [MSHßNHOI IL^HOH[INI I [MSHßNHOI

 Hp :

(

)

  Hpi ∖9;; 9∓ Hpi

 Hp :

NM [MSHßNHOI I MNMO^HTI

Q

 Hmd : ( ( 9 + Hp )

(l )

)

∓

Z

9 ∖9;;

NHSMO^I MI ‟ LI (OBLDHSJIOHßL)

(

  ;,;>3;663= 9∓ ;,;>3;663=

 Hmd :

  9

 Hli

∓9 ∖9;;

∖9;;

 Hp :> , ? 8 3 = = 9 % trhj trhj . vmlohn vmlohni i

Q

Z

;,;> ? 83==9 ) ) ∓ 9 ∖9;;  Hmd : ( ( 9 + ;,;  Hmd :Q ( 9,976439 )∓9 Z∖9;;  Hmd :9 7 , 6439% Mdmothvi Ilui`

Q(

 Hmd : l

)

( >)

  9∓

 ) Z >

9

;,947?;8 >

∓9 ∖9;;

9∓

Q(  ) Z l

Q(

 Hmd :

>   9 ∓9 ∖9;; ;.8=68336=

 Hmd :97,6439%

) Z

 

Oblo`ushÿl

Ml m` prmsmltm [rbnuotb 3, sm nhb i oblbomr `i hjpbrtilohi nm `i ^isi N^D, qum ms y piri qum sm uth`hzi, tricieilnb `i tisi ishflini y `i suji nm pultbs, nm `is tisi nm hltmrès nm` smotbr dhlilohmrb nm` Cilob nm `i Smpuc`hoi, qum i nhdmrmlohi nm `i jmtbnb`bfêi uth`hzini piri m` oé`ou`b nm `i tisi céshoi nm `i _upmrhltmlnmlohi Ciloirhi (^C_), `i N^D hlo`uym tbnis `is bpmriohblms i 8; nêis i trivès nm ON^ ¾s, jhmltris `i ^C_ mxo`uym ohmrtis bcsmrviohblms nm ioumrnb obl nmtmrjhlinbs orhtmrhbs tèolhobs. _hl mjcirfb, ms ul gmogb qum `i N^D msté `mebs nm smr uli rmdmrmlohi iomptic`m nm `i mvb`uohÿl y nm` lhvm` nm `i tisi nm hltmrès nm `i moblbjêi ob`bjchili. Oblshnmrijbs, inmjés, qum m` gmogb nm smr ul hlnhoinbr trinhohbli` y nm usb mxtmlnhnb lb ms sudhohmltm piri pisir pbr i`tb `is nmdhohmlohis mlulohinis.

Chc`hbfridêi

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