r v,

=
t

10.5%_chiph' s dung no?

truse this

2.
Congly cp sa Sunrise dang cangia thing 500.000 $de"cai
may. Congty quietdisk trai phien inmich
tien who gia1000$ is

coupon
isunt 14%/nam. Kyhan to nam. TSSL mangoma
can
nhi to
dan
you lagi. *A
Tink gial this phen
a.
ting a trail

b. Tih
gial than trai phien (by newcpph chem 10.57.g,dthitrong
c.
Conglysephat hand by traiphiende' whenthe 500000$. -

d. Tink chiphi use issauthie. Bit thesunt thisinIDN (34)

a. Po
R.["-ctn)
=

+
in 10.(tr]+i
=

1320.8829.
=

Va R 14%
=
1000 140
x =

n 10
=

r 9%
=

b. P.-CPPH 1320.8829-10.5.x1520.8829=
=
1182.19

a.
long ty phat hanh woo trai
phiens 500.000$.
de the

d. Twin thus:
CPSDN tribe

B,:Pt dich gia' tralphien is drei church:

Po-cPPH
R.[x) +
=

(13008825-10.. 15140-res) are re

Bat NPV=

B2:Tim up:

chon is, "De saocho

is.<a
va
le -Del 5%

12%. 69.19
%p. =
-> NPV, =

10%-> NPV 63.59

↑D
= -
=

Vay rp =
Bet Eren)PVY = 10.967

M2.
Congty cp sa Sunrise dang cangia thing 500.000 $de"cai
may. Congty quietdink trai phien inmenh
tien who gia1000$ is

coupon
isunt 14%/nam. Kyhan to nam. TSSL mangoma
nhi t
dai
yen canlai.. Gidbair1000$.

B1:It dich gial trai phien c' dien chink:

100 =

140.[
]
r 12%.
=
-> NPV, =-113

12 154=

14.1.
Up =
 compon
la

Cty trai phien1000$. * = 14%. Kyhan to nam. BSL14% gia'thetrim

950$. cpph.
Po 950
=

NPV 950 = -
140....

r 154.
=

Br
-> NDU,18.77.
12% NPVc=-163.245. Up 14.7%
%= -> -> =

Cty FUn=1000sn 10.tss2:9% =

compon=14% P0 1350$.
=

157. NPV
"D
=
=
->

=
12% -> NPV2=

TH1:1000 (r 13%)(1)
=

14%/nam Xi2: 950 (r 9t)

=
(2)
I 1350 (rgt)(3)
MH: =

(1) Tss] mong di thaphim

24% psdvin=p componding
by14%
khi P MG
=

(2) ISSL u

I Sucit compon 141= tssIna NDTV

 b / Chiphi'sdung no saw that:
*
rp op.(1 t)
= -

Chiphi si dung no saw thisis Chiphi si dung ni

phants His
mostthis asin
Saw that
up
my dounl
ughiep phas the choice
si dung no Arong all danger the ni le uglin 'chi phiuse
in
retrigand bei
not i r
cry atund in mitof do

way ISL ma child in thathim ISL via

his
coding in t

i
coding thing tohim
· thiuse i
when their
DN ths
tikhoing tains chan the
cia klidge in appliantin timing this
way thug
has co

Lai I histitan'schanthuscan his

sink
khoan
ray x =

way.
 2. Chiphisidung von cophanin Tai:
Po
1
=

TSSL
=>
dapinidin:r =

Kon
: cpph TH:fois cpph
up use vos piai p=A apuse open dai
vos
up-ph
1. Pan di ban:100$, cotic thank known
mi nai 5$.pph:7slop
apsiding
cpph 15-7
thi
vit up all 9.65%
p= =
=

3.
Chuphi si dung vis cophanthing.
al Theo mo hinh Gordon:
Po=
g
TSSL da
=> NAT coa Khinamqui: =
4 +

a siding win
up thing
do
gin (a la nhan: do
phat hanh mir
r
1g ~NEpp y
=

+ +
 b) Theo mi hink
tang thing giai otman:
qua is
Po-
- et..+m+Trgt
-Si dung Hnguns (NGL:

Po
r) ra+...+n-git
=

~ Si dung t
uguin phat hanh mi:

Po-cP=
armament

a) the no hinh CAPM:

V= ry B. (rm-4)
+
=

↳ Satphirai ro (them I la:li scatterenha

mice
byhan 3
thing)
Um:tssIca thistrong.

"m-ry:phan
bis eRthe
Fring.
$(rm-r):phan by RR
cinching sors this
known
tring.
so do mac do.
B:hi long RR and
up.
 d. Cophinthis yaa cty X. Mac co'th's him
to 35 Tordo
st. /nam. Grttca
tang they n't di kin
are (a opla
54$. Cpph (6$/cp.
D1 Do(1
=

g) 3.(1 8%) 3.24

+

=
+
=

UNE
ph+ 8
=
+
0.08 =0.1475.

ktr.
On

1.
infTssLand i vi B:

X A B

Say thou %2 5% 20%

Bth 0.3 7% 8%

Khei 0.3 13% 84.

15%
Hing think 0.2 6%

al XoIS cua
L
mongoh op.
A vi B.

b Gods" I NAT Kethe's dan de 504 vio

cpA 50%
in
up B.

XABSL and dark

mong the
muc A

qua'RR cha ap
and
a) taxy Arai is dark mar
&
the scant

d/Tin hip philong sai cia

up AraB. Trenco si
do hay
xot

hisiting queen A, B. Dua o kquay,who butAvaB

an'thekethy,whom trung amuckhe KV? saw? RR i

a /TSSL mong discha A:

5+..0.2 7%.0.3 134.0.3 15%..0.2 10%

-

*
+
+ + =

=
 TSSL mong die ca B:

*B 201.0.2 8%..0.3
=
+
8.0.3
+
+ 6%..0.2= 10%

b) Velai cot:
XS A B TSSLcna Aidant AB
thou
Say 0.2 5% 20% 5%.50%+ 20%50% 12.5%.
=

Bth 0.3 7% 8% 7.5t.

Khei 0.3 13% 84. 10.5%

15%
Hing think 0.2 6% 10.57.

MiAB= WA. iA+WB.VB

BSL
mong a
cha dc Ati A, B.

2:E= vim Pi 12.5%.0.2

=

10%
=
+ 7.5%..0.3 10.5+..0.3
+
+ 10.5%.0.3

2:AB WA.F
=
WB. TB 50%107.150% 107
+
= 10%
=

Bything and A trine bay:this konit

tac
Vira== Fm hen de so sant mic
->

a) Tich to lich chuan da -

a
do RR ta dny *2C caTSSL
or= Cria-a): pi
(5%-10%).0.2+ (7%-101)2.0.3 + (est.-1017.0.3 +(15%-184).0.2
=

0.00 15
=>

-> *
0.03921.
=

Tink to lick chuan B:

B
·
-
Tri-r)
- (20% 10%)?0.2 (8%-10%)?0.3 (1-10%).0.3
-
+ +
+ (6%-10%). 0.2

= 0.00256

o coins
->

Ec ri) ei -

(12.57.-10%)0.2 + (7.57.-104).03 + (10.5t_10%)?0.3+(10.5t.-(07)?0.2

=
 0.0003
=

Ab
=> 0.018027.
=

d) cor(A,B)= E (rin) (ri- ). Pi

(5%-104)(20%-107).0.2 + (71-20%) (87-10%).0.3
->
+(131-10%). (84-10t).0.3
+ (157-104). (6%-104).4.2
=- 0.0014.

()
-0.0014

Par =
-

- - -
0.70 e
0.00392 x 0.0506

hi
up now
Cie as
in

the
him
gain-I
tie the RR
can apAvBcdsu thing aan

uguio him
1
kit hop is where.

2.
Trai
ap
Rite bite 'cantric datewil

plant-
in a
this
Cody.
sty
Scholten
guilei 15,the sung
I
Ls whnaus up
in this a lot-
·

Traiphien' da'shairconai. Lai coupon 15% (nai. MG:1.10'

gia'thitring to940.10'/to..
cofac
up indai c' in de
5.109/cp. gia'thi thing (25.10/cp.
Cpthutig ao'gral the thing 50,000 lap. Its die bus wir airnam

la 3.500.d/ap.

as this
Congty tang kygtaing thing guitarsunic est.)naw.
Thatsuit inIDN (a 34%. CPasens saw this. (Puse in spinatar

CP use win
they.
up

3. MHz. bit this, but 3 bu4

4. Bt tren AA