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The Economics and Finance Letters

April 2014, Volume 1, 4, pp 66-69

Rate of Return Would Not Increase To the Extent of Annuity Saving Discount

Yin-Ching Jan

,

Yu-Chun Lin

Yin-Ching Jan 1 Yu-Chun Lin 1 

  1. Department of Distribution Management, National Chin-Yi University of Technology, Taiwan 1

on Google Scholar
on PubMed

Pages: 66-69

DOI: 10.18488/journal.29/2014.1.4/29.4.66.69

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Abstract:

This note demonstrates that when there is a discount on uniform cash flow, the rate of return would not increase to the extent of the discount. The extent to which the rate of return would increase depends on the investment horizon.
Contribution/ Originality
The relationship between annuity and rate of return had been well developed. The paper’s primary contribution is to provide the effect of the annual saving discount on the rate of return.

Keywords:


Reference:

  1. Caks, J., 1977. The coupon effect on yield to maturity. Journal of Finance, 32(1): 103-115.
  2. Reichenstein, W., 2008. Valuation of assets in taxable accounts and annuities. Financial Services Review, 17(3): 203-217.
  3. Ross, S.A., R.W. Westerfield, B.D. Jordan, S. Thompson and M. Christensen, 2004. Fundamentals of corporate finance. 3rd Edn., Australia: McGraw-Hill. pp: 160-165.

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Acknowledgement:


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