1. Discounted Cash Flow Application
   1. NPV(net present value)
      1. 所有资金流入的现值-流出的现值
      2. decision rule
         1. 寻求投资的正的现金流
         2. 两个投资选择高现金流
      3. 子主题
   2. IRR(internal rate of return)
      1. 已知现金流求收益率
      2. decision rule
         1. 选择比公司必要报酬率高的投资
   3. HPR(holding period return)
      1. (ending value -beginning value+cash flow received)/beginning calue
   4. Portfolio*
      1. money-weighted rates of return
      2. time-weighted rates of return
         1. 所有时期（即两次钱改变期间） HPR乘积用年数几何平均
   5. Yield for T-bill
      1. BDY(bank discount yield)
         1. (D/F)/(360/t)
         2. 使用票面价值
         3. 使用360天
         4. 单利
      2. HPY(holding period yield)
      3. EAY(effective annual yield)
      4. Money market yield (CD equivalent yield)
         1. 360天
         2. 单利
2. interest
   1. 含义1
      1. required rate of return
      2. discount rate
      3. opportunity
   2. 含义2
      1. nominal risk-free rate
         1. Real risk-free rate
         2. expected inflation rate
      2. prenium
         1. Default risk
         2. liquidity risk
         3. maturity risk
   3. EAR(effective annual rate)
      1. periodic rate
      2. compounding periods
3. Future value&Present value
   1. single sum
   2. annuity
      1. FV,PV,I/Y,N,PMT,BEG
      2. ordinary annuity
      3. annuity due
      4. Perpetuity
      5. Other compounding frequency
   3. applications
      1. PMT and FV have opposite signs
      2. amortization
         1. amortization schedule
         2. payments
      3. Coumpound growth
      4. Future Obligation
         1. Cash flow additivity principle