Operation Manual

B: Calculs supplémentaires 139

Calculs supplémentaires

Calculs IRR/YR

/DFDOFXODWULFHGpWHUPLQHOHUDSSRUW,55<5SRXUXQHVpULHGHIOX[HQ

XWLOLVDQWGHVIRUPXOHVPDWKpPDWLTXHVTXLUHFKHUFKHQWODUpSRQVH/H

SURFHVVXVFDOFXOHXQHVROXWLRQHVWLPpHTX·LOXWLOLVHSRXUXQDXWUHFDOFXO

&·HVWXQSURFHVVXVLWpUDWLI

'DQVODSOXSDUWGHVFDVODFDOFXODWULFHWURXYHODUpSRQVHGpVLUpHSXLVTX·LO

Q·\HQDHQJpQpUDOTX·XQHVHXOH&HSHQGDQWOHIDLWGHFDOFXOHU,55<5

SRXUFHUWDLQVJURXSHVGHIOX[YDULDEOHVHVWSOXVFRPSOH[H,OSHXW\DYRLU

SOXVLHXUVVROXWLRQVPDWKpPDWLTXHVDXSUREOqPHRXSDVGHVROXWLRQGX

WRXW'DQVFHVFDVODFDOFXODWULFHDIILFKHXQPHVVDJHTXLYRXVDLGHj

LQWHUSUpWHUOHUpVXOWDWGXFDOFXO

Résultats possibles du calcul IRR/YR.

9RLFLOHVUpVXOWDWVSRVVLEOHVG·XQFDOFXO, 55<5

Cas 1./DFDOFXODWULFHDIILFKHXQHUpSRQVHSRVLWLYH&HFLHVWODVHXOH

UpSRQVHSRVLWLYH&HSHQGDQWLOSHXWH[LVWHUXQHRXSOXVLHXUV

UpSRQVHVQpJDWLYHV

Cas 2./DFDOFXODWULFHWURXYHXQHUpSRQVHQpJDWLYHPDLVLOH[LVWH

DXVVLXQHUpSRQVHSRVLWLYHXQLTXH,ODIILFKH

Pos Irr Also3RXUYRLU

ODUpSRQVHQpJDWLYHDSSX\H]VXU

SRXUHIIDFHUOHPHVVDJH3RXU

6DLVLHG·XQHHVWLPDWLRQSRXU,55<5ªFLGHVVRXV,OSHXW

pJDOHPHQWH[LVWHUG·DXWUHVUpSRQVHVQpJDWLYHV

Cas 3./DFDOFXODWULFHDIILFKHXQHUpSRQVHQpJDWLYHHWDXFXQ

PHVVDJH&HOOHFLHVWODVHXOHUpSRQVH

appendix_B.fm Page 139 Sunday, June 25, 2000 2:50 PM