CAJ | 학술논문

为了研究垫资承包工程的合理性，从资金时间价值的角度出发，运用函数极限的思想和等比、等差数列基本公式推导出了递减等比序列和递减等差序列的间断现金流连续复利现值计算公式，再分别引入一个工程实例进行分析计算。计算结果表明间断复利计算得到的净现值比连续复利计算得到的净现值要大，即连续复利计算的终值比间断复利计算的终值要大，所以连续复利计算资金时间价值更符合实际情况。同时说明，垫资承包工程用连续复利计算资金时间价值计算才能避免决策失误。
위료연구점자승포공정적합이성，종자금시간개치적각도출발，운용함수겁한적사상화등비、등차수렬기본공식추도출료체감등비서렬화체감등차서렬적간단현금류련속복리현치계산공식，재분별인입일개공정실례진행분석계산。계산결과표명간단복리계산득도적정현치비련속복리계산득도적정현치요대，즉련속복리계산적종치비간단복리계산적종치요대，소이련속복리계산자금시간개치경부합실제정황。동시설명，점자승포공정용련속복리계산자금시간개치계산재능피면결책실오。
To analyze the reasonability of contracting with funds in architectural engineering,this paper starts from the perspective of capital time value and adopts the idea of function limit and the basic formulas of geometrical sequence and arithmetical sequence to deduce the geometrical sequence and arithmetical sequence cash flow’s continuous compound interest net present value calculation formula. An engineering case study was conducted for formula demonstration. The calculation results show that the net present value calculated by discontinuous compound interest is greater than the net present value calculated by continuous compound interest. Therefore,the time value of money calculated by continuous compound interest could better suit practical situation. The capital time value of contracting with funds in architectural engineering,as calculated by continuous compound interest,could avoid decision-making errors.