#Payback period
#Conventional Payback Period(静态回收期)
#Formula
静态回收期 = 累计净现金流量开始出现正值的年份数 - 1 + [上年累计净现金流量的绝对值/当年净现金流量]
#Weakness
Does not consider the time value of money.
#Discounted Payback Period(动态回收期)
#Formula
动态回收期 = 累计净现金流量折现值开始出现正值的年份数 - 1 + [上年累计净现金流量折现值的绝对值/当年净现金流量折现值]
#Weakness
Cash flows occurring after discounted payback period(DPP) are ignored.
#Calculate
Method1:
Method2:
#Capitalized Equivalent Worth(等值资本化)
A special case of the PW criterion is useful when the life of a proposed project is perpetual or the service life is extremely long.
The capitalized cost represents the amount of money that must be invested today in order to yield a certain return A at the end of each and every period forever.
一次性投入以在以后的每个阶段(例如每年、每月等)产生一个确定的回报 A。
#Formula
$$C E ( i ) = P W ( i ) = A ( P / A , i , N ) = A / i \ (n\rightarrow \infty)$$
#Annual equivalent worth(年金等值分析)
在评估项目时，如果使用现值分析 (PW) 应当保证两个项目的分析期(项目存活周期)相同。如果不同，可以采用最小公倍数法统一分析期，但这种方法很麻烦。这种情况下，可以使用年金等值分析，计算每一年的平均花费，然后进行比较。二者的关系是 $\mathrm { AE } ( \mathrm { i } ) = \mathrm { PW } ( \mathrm { i } ) ( \mathrm { A } / \mathrm { P } , \mathrm { i } , \mathrm { N } )$。
#Capital–Recovery Cost(资本重置费用)
$$\begin{aligned} \mathrm { CR } ( i ) & = I ( A / P , i , N ) - S ( A / F , i , N ) = ( I - S ) ( A / P , i , N ) + i S \end{aligned}$$
$I$ 为一开始购进设备的花费，$S$ 为设备的残值。