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2010年6月份考卷第3题,关于利息为什么不纳入NPV的计算。

题目给出:

 

1、“Investment fi nancing is by a $2 million loan at a fi xed interest rate of 10% per year”;fficeffice" />

2、“The real weighted average cost of capital of OKM Co is 7% per year”。

 

但是在计算NPV的时候不需考虑每年的利息,答案的解释是“Interest payments have been included in the investment appraisal, but these are allowed for by the discount rate used in calculating the net present value”。

 

请问这怎么理解?

 

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