Програмне забезпечення фінансового менеджменту. Навчальний посібник

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Author: Костирко В.С.

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27

1. !/'& >'%#!FD#E# $!%##E# *''"C*'&, !F'C!&D "# !AK$FDQ >#>,FB >!/'&$ >#E!* "F >'%#!FDB /#*>’I&'$. 2. F >!/'&$ >'%#!FD#E# $!%##E# *''"C*'&, B!!/&'A ",C$A $&''A% < /#%&,!?'*. 3. !B,#/ — @' #<"$F %&,/&,$ !/&$ &! >!%$ #%#K. 4. !B,/ >!/'&!B >'%#!FD#E# $!%##E# *''"C*'&, &>$<#!$. 5. !&'E#$ — @' #<"$F , %&,/&,$ "#B#"$ &! &!& #%#K. 6. !&'E#$ "#B#"$ &! /!&'E#$ &!& ,&#II&D "! '%/. 7. $"/!&'E#$ — @' >$"#<"$F /!&'E#$ &!& ? "#B#"$. 8. $"/!&'E#$ #"# /!&'E#$ ,&#II&D F$$AA %>%#/. 9. #*!@$A#I #%##I >!/'&$ >'%#!FD#E# $!%##E# *''"C*'&, M K!'%#!FD#E# $!%##E# *''"C*'&, "F >#?!&/, #K#& < * $%&!FIM&D% ! /#*>’I&'$. 11. $" ?!% $%&!F@$ ! /#*>’I&'$ %&#IM&D% "'*#%&!@$A! K!!/'&#* *#C! >#?!& < "'*#%&!@$A# K!< "!B (>''EF" "!B, <$&). 13. !/'& *!M E$>'&'/%&#, /#&'/%&#-?,&F, "#$"/#, %%&'*,. 14. F >#?!&/, #&$K# %&#& #, K!<, "!B. 15. $" ?!% #K#& < >!/'&#* ,%$ '"'$ /#%&,!?'* "!$ 'E!A# 'M%&,I&D% K!<$ "!B. 16. $%F !/'& *#C' %&#& !B$, /#>$I K!< "!B. 17. B$! /#>$ K!< "!B M >##@$#I K!<#I "!B >!/'&!. 18. #F "#@$FD# $"/FI?& %&#' !B$# /#>$ K!< "!B? 19. F F!&'C$ , #, K!<, "!B >!/'&! MS Money >#&$K# %&#& >!A*$ #" !B,#/. 20. G,/@$#,! >!/'&! *#C! "'N# <*$& #"#I < /#*!" A#E# *'I. 21. &''A% >!/'&! K!<,M&D% ! /#@'>@$B #K#?#E# %&#F!, '/!#E# *'I, $%&#$ #K#& /#%&,!?!. 22. F >##@$#E# ,/@$#,! >!/'& >#&'K,M 'M%&!@$ , #K/!. 28

. .

23. !/'& >''"K!?!M >$"’M"! "# K!/$%D/B /#*>’I&'B *''C "F <"$A%' 'F'/&#B >F!&'C$ &! #"'C! >%#/. 24. !/'& >''"K!?!M >$"’M"! "# K$C#B /#*>’I&'B *''C "F #"'C! /,%$ @$B >!>'$. 25. ''"C' !B,/$ — @' >$"%%&'*!, ><!?'! "F #K%F,E#,! !B,/$ /#%&,!?!.

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29

11. 0 MS Money? 12. < MS Money. 13. < MS Money. 14. / ( MS Money ? 15. = ( ( MS Money ? 16. < ) MS Money. 17. < . 18. < . 19. 0 & ? 20. 8 ? 21. 0 , ( % % ? 22. % . 23. % ) ). 24. % ) ) ) ).

$ 1. &#& #, K!<, "!B >!/'&!, #<&!Q,!Q A#E# ! ’I&'!, , $" # $!%#$ !/& &! <#K#’#K,",!& %%&'*, !B,/$ , %''"#N$ >!/'&! MS Money. 3. B#"? < ,F'D ># "#B#" &! &!& #K,",!& "F ' F!%, %%&'*, /!&'E#$A &! >$"/!&'E#$A, "#>#II? &! /#E,I? %&!"!&,.

30

. .

3 MS MONEY 2.1. > . 2.2. ) . 2.3. @ . 2.4. * ). 2.5. A & & ). ".

. # . $ .

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31

FQ#/ /#Q&$ ! !B,/, >$%F #&$*. #K#?! #KF!%&D $/! C,!F, (%. 3.1) #'& — 'BD#, CD# &! >!#. 'B$A, #%#$A, ?!%&$ $/! $"#K!C!M&D% &!KF@ &!%!/@$A !B,/,. #C' "#/ @$M &!KF@$ $"#K!C!M #", &!%!/@$I, N# !E!",M /C#-C,!FD, #*, K,BE!F&'%D/#E# #KF$/,. "$F'A "#/ (&!KF?A /,%#) <!?!M >#&#?, &!%!/@$I.

%. 3.1. $/# C,!F, !B,/,

C ?!%&! $/! FM %#K#I "$!F#E#, #*, "F '"!E,! >#&#?# &!%!/@$ (@' !E!",M C,!FD#-#"', #*, K,BE!F&'%D/#E# #KF$/,). ! >!$A >!'F$ $/! #<&!Q#,I&D% /F!$Q$ «Account Details» &! «Balance…». F!$Q! Account Details !"!M "#%&,> "# $/! '"!E,! '/$<&$ !B,/,. >'!@$ Balance /F/!M "$!F#E#, >#@'",, <$ (Reconciling) C,!F, !B,/, < >%/#I. !KF@ &!%!/@$A *!M !!*'& $"#K!C' C,!F, !B,/, $ %>%#/ K#, "F <*$ @B >!!*'&$. %D @'A %>%#/: 32

. .

x By Date — >#"/,!& &!%!/@$ #"/,!& &!%!/@$ #"/,!& &!%!/@$ #"/#* B ,#"' C,!F; x All Transactions — $"#K!C!& %$ &!%!/@$ ('C* $"#K!C' %$B); x Unreconciled Transactions — $"#K!C!& FQ' &$ &!%!/@$, /$ N' ' >$"&'"C'$ >%/#I ('C* $FD&!@$); x Top Line Only — $"#K!C!& FQ' 'B$ "/ &!%!/@$A < #%#* B >!!*'&!* (#"#"/#A 'C*); x All Transaction Details — $"#K!C!& %$ >!!*'& &!%!/@$A; , @D#*, 'C*$ /#C! &!%!/@$ !>#'@D, /A /',M $"#K!C'* "$!F#E## #* >#&#?# &!%!/@$ (#"'!). F /#%&,!?!->#?!&/$@ '/#*'",M&D% <*$& 'C* $"#K!C' C,!F, ! &"/#A, $"#K!C' %$B &! K'< #"'$. #%$" >#/!#%$K #K#& < C,!F#* &!%!/@$A. 3.2. ') ' !/'& MS Money >#>#,M &!/$ #>'!@$ < &!%!/@$*: x ,'"' &!%!/@$ ,?, < /F!$!&,; x E''!@$ &!%!/@$ #&& >'$#"?# &!%!/@$ #<EF"!M&D% "!F$); x '"!E,! !$Q' '"'B &!%!/@$A; x >'''%' &!%!/@$A < #"#E# C,!F, $QA; x <N' &!%!/@$; x %&#,! &!%!/@$; x >$"&'"C' &!%!/@$. F ,?#E# ,'"' ## &!%!/@$ >#&$K# !&%,& *Q'I ! >'Q#*, $FD#*, "/, &!KF@$ &!%!/@$A. #*' ## &!%!/@$ >!/'& !*!E!M&D% %#*,!& < #*'! >#>''"D# "#"!!* "# D#E# #"@$; /N# C @'A #*' '?%F#A, &# >#&#IM A#E# '<*$*. #, &!%!/@$I >!/'& 'M%&,M %D#E#"$QD#I "!&#I, !F' /#%&,!? *#C' <*$& / "!&,, &!/ $ #*' &!%!/@$. !%&,>' >#F' (>#F' /#&!E'&!) /#%&,!? *#C' #I!& !K# ' #I!& — $">#$"# "# %,&$ &!%!/@$. #%&,!? *#C' K!& /#&!E'&! <$ %>%/,, #F' !<, ##E#

33

/#&!E'&! ? &'& *$%& >#F. /N# >%!& @' >#F' !<, ##E# /#&!E'&!, &# >!/'&
>#F$ Category *#C! !!F#E$?# K!& #", < "#B$"B ? &!&B /!&'E#$A, #*,I? %&!"!&, &!%!/@$I. /N# >%!& @' >#F' !<, ## /!&'E#$, &# >!/'& /F?' /#%&,/&#! /!&'E#$A, "#>#*!E!I? /#%&,!?'$ >!FD# %&#&. >#F$, #<&!Q#!#*, %>!! $" /!&'E#$, *#C! ,&#?& K!, /!&'E#$I &!/ <!#I >$"/!&'E#$MI. !/* ?#*, %&,/&,! /!&'E#$A M "#$'#I. @D#*, >#F$ *#C! '%& $ #, >$"/!&'E#$I "F K!# /!&'E#$. $%F !/'& /#,M &!/$ "$: x >''#"&D &!KF?A /,%# ! !%&,>A "#/; x #<&!Q#,M &!%!/@$I ! *$%@' C,!F$ #&#?* >#"/,!*; x >''#K?%FIM K!F!% ,%$B !%&,>B &!%!/@$A.

>#F$ Category /$* %>%/, /!&'E#$A "#B#"$ $ &!& $"#K!C!I&D% #<!/ %>'@$!FDB &!%!/@$A: x Transfer — &!%',, /#F E#Q$ ' !"B#"&D $ ' &!?!I&D%, ! FQ' >''B#"&D < #"#E# !B,/, ! $QA; x Split — %/F!"# &!%!/@$, /! !/&?# >'"%&!FM "'/$FD/! >#%&B; x Paycheck — E''!@$ %/F!"# &!%!/@$ "F 'M%&!@$ F!&, /! >''"K!?!M %>F!&, >#"!&/$, !!B,!D &! ,&*!D; x Loan Payment — E''!@$ %/F!"# &!%!/@$ "F 'M%&!@$ /'"&B >F!&'C$ < ##'' /'"&, $ %>F!&, >#@'&$; x Buy Investment — E''!@$ %>'@$!FD# &!%!/@$ "F 'M%&!@$ #>'!@$ < @$* >!>'!*, /! *!M " "#"!&/#B >!!*'&$. /N# &!%!/@$ M &!%'#*, &# >#F$ >$"/!&'E#$ "F ' >#&$K# #",I?A !B,#/. $%F #",I?#E# !B,/, !&#*!&?# %&#IM&D% /#'%>#",I?A &!%' — < &* %!** '/$<&!*, !F' >#&F'C* !>*/#* E#Q##E# >#&#/,. F >''B#", "# /#'%>#",I?#E# &!%', *#C! %/#%&!&% /#*!"#I Goto Account… < *'I Edit ? < /#&'/%&#E# *'I >!/'&! (*'I >!# /F!$Q$ *Q$). &!"!&! &!%!/@$, ! $"*$, $" &!%',, #>%,M ,B /#Q&$ *$C !B,/#* &! /!&'E#$MI, &#K&# ''EF",, '"!E,! !K# <*$ %&,/&, >#&$K# %/#%&!&% #>'!@$MI Split… < *'I Edit >!/'&! !K# /#*K$!@$MI /F!$Q Ctrl-S. 34

. .

F '"!E,! !$Q' %&#'# &!%!/@$ >#&$K# "$?$ !&%,& ! ' *Q'I (!K# /F!$Q!* >$"'%& "# ' &!KF?A /,%# $ !&%,& ! /F!$Q, Enter), '%& '#KB$"$ <*$ $ !&%,& ! /F!$Q, Enter. F >'''%' >#&#?# &!%!/@$ $QA C,!F *#C! %/#%&!&% /#*!"#I Move to Account… < *'I Edit ? < /#&'/%&#E# *'I, K!& <$ %>%/, K!C!A !B,#/ $ !&%,& ! "$!F#E#, /F!$Q, /:. RN' >#&#?# &!%!/@$ <"$A%IM&D% /#*!"#I Delete < *'I Edit, /#*!"#I Delete < /#&'/%&#E# *'I !K# !&%'* ! /F!$Q, Delete. &#,! >#&#?# &!%!/@$ <"$A%IM&D% /#*!"#I>!>#@'* Mark As o Void < *'I Edit !K# /#&'/%&#E# *'I. !/! #>'!@$ >''&#IM &!%!/@$I ! /#*'&!: #! ?/, K!F!%, C,!F, !B,/, #& ' <’FM&D% #<!/! **VOID**. ?'"! >''!E! #>'!@$ %&#,! >''" #>'!@$MI <N' >#FE!M &#*,, N# %$ '/$<& &!%!/@$ #&#/$. !>/F!", #>'!@$ %&#,! *#C' $">#$"!& >#''I /,>F'#E# ? >#"!#E# &#!,. &##!, &!%!/@$I *#C! >#',& "# >#>''"D#E# %&!,, #>,%/!I? >!>#'@D Mark As o Void. 3.3. & $ #C! &!%!/@$ (#/$* %&##!B) <*$IM K!F!% !B,/,, "#"!I? "# D#E# %,*, &!%!/@$ ? $"$*!I? . !F!% !B,/, ! *#*'& !/'&#* $ "!M&D% #%&!D#*, %&#>?/, C,!F, !B,/,. ! C$A >!'F$ $/! C,!F, "!M&D% K!F!% #%&!D# &!%!/@$ C,!F, — /$@'A K!F!% (Ending Balance). $@'A K!F!% M !CF*, #%/$FD/ "#<#FM $"!<, >#K!?&, / >#<!?&D% /#E,! &!%!/@$A C,!F, ! %&!$ !B,/,. $"<!?*#, N# !B,/ >!/'&$ MS Money M FQ' $"#K!C'* K!<#B !/&$ &! <#K#’#<&B, /'"&B !B,/$ #%#K, E#&$/, @$#%&'A, K#E$ &#N#). #*, >#&$K# >'$#"?# >##"& <$ (reconciling, $'&!#$II? %&! K!<#B !/&$ &! <#K#’!/'&$. !/'& >#>#,M %>'@$!FD, >#@'",, &!/#E# <$, /, >'"%&!FM /F!$Q! Balance…, #<&!Q#!! ! >!$A >!'F$ C,!F, !B,/,.

35

R$ !B,/, <"$A%IM&D% ! >$"%&!$ >%/ < !B,/, (Account Statement). #@'% <$ #<EF'*# ! >/F!"$ K!/$%D/#E# !B,/,. >%/, < K!/$%D/#E# !B,/, B!!/&'<,I&D &!/$ '/$<&: x !&! >%/ — Statement Date; x #?!&/#A K!F!% — Starting Balance; x $@'A K!F!% — Ending Balance; x !&$%&D K!/$%D/#E# #K%F,E#,! — Service Charge; x !/$%D/A >#@'&, /A !!B#!A ! %#/ >F!&'C$. !&%'$ ! /F!$Q, Balance… !/&$<,M&D% /#%&,/&# K!F!%, !B,/,. #E# >'Q' "$!F#E#' $/# #>%,M >#@'% <$. ",E' "$!F#E#' $/# (%. 3.2) /#%&,!? *#C' %/ #%#$ '/$<&. ,& >''"K!?'$ >#F "F /!&'E#$ &! >$"/!&'E#$ >F!& #@'&!. / "# < %. 3.2, >!/'& %!* <!?!M >#?!&/#A K!F!% !B,/, / '<,FD&!& >#>''"D#E# <$. #%&,!?, ''$& A#E#, >'''%& < >%/ "'/$FD/! %,*, K!& /!&'E#$ &!& &! "#B#"$ $ !&%,& ! /F!$Q, Next.

%. 3.2. ,E' "$!F#E#' $/# /#%&,/&#! K!F!%, 36

. .

#%&,/&# K!F!%, >#>#,M /#%&,!?'$ C,!F !B,/, #"#"/##*, EF"$ (Top Line Only) &! < $FD&!@$MI FQ' '<$'B >F!&'C$ (Unreconciled Transacions). ! >!$A >!'F$ C,!F, $"#K!C!I&D% >$"%,*/ <$ (%. 3.3). #%&,!? #<EF"!M >F!&'C$, >''F$?'$ , >%@$ < !B,/,, $ $"<!?!M B *Q'I >#F$ C &!%!/@$ / >$"&'"C'$ (C, Cleared). #C' !&%' ! @' >#F' >#"&D "# ># ? "# </' #<!/ C. <*$$ %&!&,%, &!%!/@$ 'E!A# <*$II&D% >$"%,*/ <$: x /$FD/$%&D &! %,*! B$"B >F!&'C$ (Deposits); x /$FD/$%&D &! %,*! B$"B >F!&'C$ (Payments); x K!F!% !B,/, < ,!B,!* FQ' >$"&'"C'B &!%!/@$A (Cleared); x K!F!% !B,/, <E$"# < >%%. 3.3. $"%,*/ <$ /#I (Statement); x $<@ *$C "#*! K!F!%!* (Difference). $FD <$ &#*,, N#K "#*#E&% ,FD## $<@$, &#K&# !/'&$ &! !B,/, K!/,). R'$&D ,!E, ! &', N# >!/'& !&#*!&?# "#"!M &!%!/@$, N# $">#$"!I&D >F!&$ F!&$C) &! K!/$%D/#*, >#@'&, (B$"A >F!&$C), /N# # K,F '%'$ /#%&,!?'* , #*, >%/ < !B,/,. $ %,* &!/#C ,C' !B#!$ K!/#* , /$@'#*, K!F!%$. /N# /#%&,!?, ' "!M&D% >A& "# ,FD## $<@$ %>#%#K#* $"<!?' >F!&'C$, &# $ *#C': x !&%,& ! /F!$Q, Next, >#>#,I? >!/'&, %!*#*, <!A& $Q'; x !&%,& ! /F!$Q, Postpone, $"/F!"!I? <$ ! >#&$*; x >$"& >!>#'@D Click here to add or edit transactions, /A <*$IM 'C* ,/@$#,! C,!F, ! &"/#A, $ %>#K,!& >!& >#*F/, "'&!FD* >''EF"#* $ '"!E,!* &!%!/@$A.

37

$%F &#E# / /#%&,!? "#K’M&D% ,FD## $<@$ (!/'& <*$IM %$ ,?, >#%&!F'$ #<!/ C (Cleared) ! R (Reconciled, <$'# < >%/#I). 3.4. ') ,?! 'M%&!@$ >F!&'C$, #?'"#, M ,&#I $ %/F!"#I K,BE!F&'%D/#I >!@'I. R ",E#E# K#/,, K$FDQ$%&D &!%!/@$A M 'E,F*, &#K&# >#&#II&D% >'$#"?# < K$FDQ$%&I $"'&?B >!!*'&$. !>/F!", &>## N#&C >F!?,M&D% F!&!, N#*$%@ %>F!?,I&D% >#@'&, N#/!&!F, >F!?,I&D% "$"'", N#*$%@ #>F!?,I&D% !B,/ #%F,E &#N#. #*, F#E$?# K,F# K E##& ># B >'$#"?' >#&#', /#>$I!, E''!@$I.

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. .

,E' "$!F#E#' $/# #>%,M, / >!!*'& >'$#"?# &!%!/@$ #$"$ >#F #* !%&,>#*,, &'&D#*,, $/$. %. 3.5 >#/!<,M #*, &!/#E# $/! "F >'$#"?# &!%!/@$ &>, Bill, #"!/ "! $QB $/! ",C' %B#C$ ! @'. #F#A '/$<& >'$#"?# &!%!/@$ — / (frequency) — '%'A ! 'BI >!'FD $/! A #%!N'A %>%/#* K#, &>#B ?!%&#&: x N#" (Daily); x N#&C (Weekly); x #" !< ! "! &C$ (Every other Week); x "$?$ ! *$%@D (Twice a Month); x #" !< ! ?#& &C$ (Every four Weeks); x N#*$%@ (Monthly) — '$#"?#%&$ «FQ' !<», !/&?#, ' M >'$#"?#I, !F' #! /#%! "F >F!,! >F!&'C$ &! #@$/ *!AK,&D#E# %&!, !B,/,.

%. 3.5. $!F#E#' $/# #>%, >!!*'&$ >'$#"?# &!%!/@$

%/$FD/ ! K!<$ >'$#"?# &!%!/@$ E'',I&D% <?!A$, &# #! >#! *$%&& K$FDQ$%&D '/$<&$ <?!AB &!%!/@$A: x !B,#/ >F!&'C, (Account) — @' &#A !B,#/, , C,!F /#E# >#&!>F&*,&D <E''#!$ &!%!/@$; x /#&!E'& (Pay To, From) — '#K#’<!?' >F!&'C, (Memo) — '#K#’$"/!&'E#$ "#B#"$ ? &!&;

39

x #*' >F!&'C, (Number) — '#K#’F!&'C, (Amount). '/$<& 0 ' (Date) , #*$ >'$#"?# &!%!/@$ %F,C&D "F 'Q# <E''#!# &!%!/@$; "!& !%&,>B &!%!/@$A ,&#II&D% "#"!!* "# >'Q# "!& >'# /$FD/#%&$ >'$#"$. !>/F!", ! K!<$ >'$#"?# &!%!/@$ < *$%?* >'$#"#* &! "!&#I 10 C#& 2003 #/, >#%F$"## K,",&D %&#I!&% <?!A$ &!%!/@$ < "!&!* 10 C#& 2003 ., 10 F%&#>!"! 2003 ., 10 E," 2003 ., 10 %$? %.3.6 2004 . $ &. ". %$ @$ &!%!/@$, / >#&'@$A$, <’F&D% , $/$ >F!&'C$, ! B$ "!& /!F'"!$ &!%!/@$A K,",&D >#<!?'$ >$/&#E!*#I ?'/! (%. 3.6). '$#"?$ &!%!/@$ *#C,&D %&#I!&% ' FQ' ,?,, / K,F# #>%!# N'. QA %>#%$K — @' %&#' >'$#"?# &!%!/@$ ! K!<$ <?!A#. F @D#E# >#&$K# K!& C,!F !B,/,, ,%&!#& ! &!%!/@$I &!KF?A /,%# $ %/#%&!&% /#*!"#I Add to Payment Calendar < *'I Edit !K# < /#&'/%&#E# *'I. !/'& %&#IM >'$#"?, &!%!/@$I, > @D#*,: x >#>#,M /#%&,!?'$ K!& >'$#"?$%&D; '$#"?$%&D; x >#>#,M /#%&,!?'$ K!& "!&, >'Q#E# >F!&'C,; #E# *$%@ >$%F >#&#?#E#, /! *!M &#A %!*A "'D *$%@, N# A "!&! K!<## &!%!/@$; !>/F!", /N# K!<#! &!%!/@$ #&#?#I "!&#I M 20 %'> 2003 #/,, &# "!&#I >'Q#E# >#&'@$A#E# >F!&'C, #F' #*'! &!%!/@$. / "# < >#$ '/$<&$ >'$#"?# &! <?!A# &!%!/@$, K$FDQ$%&D '/$<&$ &#?# $">#$"!I&D #" #"#*, $ '"!E,I&D% #"!/#* ''F$/, >#&$K# "#"!& N' *'B!$<* %/F!"B &!%!/@$A: , &!%!/@$B "F '"!E,! %&,/&, %/F!"B &!%!/@$A /#%&#,M&D% /#*!"! Split < *'I Edit, ! >'$#"?B &!%!/@$B — /F!$Q! Split ! #*$ #>%, &!%!/@$. 40

. .

$FD/$%&D >#&'@$AB &!%!/@$A '#K*'C'! ("!&! #%&!D# &!%!/@$ '<!?'!) "F %$B >'$#"?B &!%!/@$A, #/$* !<#B. F &#E# N#K >#K!?& B , $/$ >F!&'C$, >#&$K# >#%,,& /!F'"! "# >#&$K#E# *$%@. &C', $/# >F!&'C$ $"#K!C!M %$ >#&'@$A$ >F!&'C$ — $" >'Q#E# F!&'C$ *$%@, /F!", /N# F!&$C $" 20 %'> 2003 #/, $ $ M B##F#E$?# >'Q*, ! ! /!F'"!$ $"#K!C'# K''<'D 2004 #/,, &# , $/$ >F!&'C$ K,",&D ,%$ >#&'@$A$ >F!&'C$ $" 20 %'> 2003 . !C "# 31 K''< 2004 .

" < >#&'@$AB >F!&'C$ #<!?'A &!KF?* /,%##* / >#&#?A. # >#&#?#E# >F!&'C, !F'C!&D #>'!@$, >'"%&!F'$ /F!$Q!* Edit… &! Delete…, /$ #<&!Q#!$ >$" $/#* >F!&'C$. '"!E,! (Edit) K,"D-/#E# < >#&'@$AB >F!&'C$ >#"&D "# <*$ >!!*'&$ >'$#"?# &!%!/@$, ! #&C', $ %$B >#&'@$AB >F!&'C$. >'!@$ <N' (Delete) "$M K$/## — !K# ! %I &!%!/@$I (&#K&#, ! %$ >F!&'C$), !K# FQ' ! >#&#?A >#&'@$AA >F!&$C. F @D#E# > !&%'$ /#%&,!?'* ! /F!$Q, Delete >!/'& &!M ># A#E# !*$ "$!F#E#* $/#* < /F!$Q!*: Delete All Instances — <N& %$ >#&'@$A$ >F!&'C$; Just This Instance — <N& FQ' >#&#?A >#&'@$AA >F!&$C; Cancel — ' <N,!& >F!&'C$. 3.5. ' * $ '* % )

C,!F$ >#&'@$AB >F!&'C$ F$#,? $" /#C# &!%!/@$ #<&!Q#!# >!>#'@D E''!@$. /N# >!>#'@D E''!@$ &!%!/@$ >$"&A, &# #%&!D#*, %&#>?/, &!KF@$ <’FM&D% K!F!% !B,/, >F!&'C, ! *#*'& #A&% ># &!KF@$ $ >$"& >!>#@$ FQ' K$F &B >#&'@$AB &!%!/@$A, /$ $ B#&$ K <E'',!&. ''!@$ >#&'@$AB >F!&'C$ <"$A%IM&D% /F!$Q'I Enter. !/'& >''$M, ? ' >#>,%& /#%&,!? /B#%D >F!&'C$ '$#"?* &!%!/@$*, "F /B ,C' F!#!! E''!@$. /N# >F!&'C$ ' F!#!$, &#"$ >!/'& %!* >$"$*!M >#&$K$ >!>#@$.

41

%. 3.7. $/# E''!@$ >#&'@$AB >F!&'C$

F >#?!&/, E''!@$ $"<!?'B >F!&'C$ >#&$K# <#, !&%,& ! /F!$Q, Enter. !/'& <!B#"&D &!KF@$ >'QA F!#!A "# E''!@$ >F!&$C $ $"#K!C!M ! '/!$ #*, < A#E# >!!*'&!* ! &#A >!"#/, /N# /#%&,!? B#&$ K %/#E,!& A#E# '/$<&: !>/F!", >#%&!& #*' ?'/,, ,&#?& %,*, /#*,!FD#E# >F!&'C, &#N# (%. 3.7). !F$ /#%&,!? *#C' !&%,& ! #", < "$!F#E#B /F!$Q #*: x Enter — <E'',!& &!%!/@$I C,!F$ >F!&'C,; >#&'@$A! &!%!/@$ ,%,!M&D% < &!KF@$, $ >!/'& >''B#"&D "# E''!@$ !%&,>#; x Don’t Enter Now — ' E'',!& &!%!/@$; , @D#*, !<$ >!>#'@D E''!@$ #>,%/!M&D% "F >#&#?#E# >F!&'C, $ "F %$B !%&,>B >#&'@$AB &!%!/@$A $">#$"# >'$#"?# &!%!/@$; x Cancel — >''!& >#@'% E''!@$; ,%$ >!>#@$ #@'% E''!@$ < &#E# %!*#E# >F!&'C,, !&%,Q ! /F!$Q, Enter. F #>,%/! %$B >!>#@$ E''!@$ &!%!/@$A ><!?'! /F!$Q! Uncheck All, #<&!Q#!! ! $/$ C,!F, >#&'@$AB &!%!/@$A. 1. :' % $ ’ ’ # ! . 2. 9 ! ' ’ ( )

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43

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$ 1. &#$&D %&!"!&, &!%!/@$I "F #K,"#!, &!%!/@$I /#&!E'&!. 3. R*$$&D %,*, &!%!/@$ &! $"'%$&D ! $Q, /!&'E#$I. 4. '''%$&D &!%!/@$I C,!F $Q#E# !B,/,. 5. &#$&D #, >$"/!&'E#$I $%,I?# /!&'E#$ $ $"'%$&D ! ' !$Q' >#K,"#!, &!%!/@$I. 6. &#$&D &!%' *$C "#*! /F!", /,>$F &#!, < ). 11. #'"$&D <$ !B,/, %/#I. 12. &#$&D >'$#"?, &!%!/@$I (!>/F!", #"'C! %&>'"$). 13. R! "#>#*#E#I >'$#"?B &!%!/@$A %>#E#<,A&' %&! !B,/, ?''< ?#& *$%@$. 14. RE'',A&' <?!A$ &!%!/@$ #*#E#I %&#'# >'$#"?# >#&E#* *$%@. 44

. .

4 MS MONEY 4.1. *

. 4.2. # . 4.3. # . 4.4. # ' . 4.5. *&& . 4.6. # . 4.7. # . ".

. # . $ .

4.1. &(& H — @' &>#$ $!%#$ #<!B,/#$ %B'*, /$ %#E# ?!%, '!F$<#,!F% >%&#*, %B#C* ! /!FD/,F&# (<$"/ A >#B#"&D B !<!). >'%#!FDB /#*>’I&'!B /#@'>@$ $!%##E# /!FD/,F&#! #"'C,M #' "B! , EF"$ /#%&,/&#! (Wizard), B#?! ?!%&# !/'&$ MS Money $!%#$ /!FD/,F&# '!F$<,I&D% /F!$Q'I Planning Wizards, #<&!Q#!#I ! #K#?#*, %&#F$. !&%/!$ $"/!M&D% #*! < /F!$Q!* "F /F/, >’& $!%#B /!FD/,F&#$: x Loan Calculator — !FD/,F&# /'"&$; x Mortgage Planner — !FD/,F&# #@'&$. 4.2. &(& !FD/,F&# /'"&$, !>'#, !A>#%&$QA <$ <E!"!B $!%#B /!FD/,F&#$; *!M /F!%?, /#@'>@$I, >#%&, $ <#<,*$F, >#%&!#/,
45

>''$&. !&%/!$ ! /F!$Q, Loan Calculator ! '/!$ <’FM&D% #*! /!FD/,F&#! < ,C' <!A#** < #<". 2 %&!"!&* >!!*'&!* /'"&,: x %,*#I /'"&, — Loan Amount; x #*#I /'"&#E# >#@'&! — Interest Rate; x &'*$#* /'"&, — Loan Length; x ?!%&#&#I /'"&B '%/$ — Payment Frequency; x 'F?#I /'"&#E# '%/, — Payment Amount (P + I); x
" < @B Q'%& >!!*'&$ >!/'& #<!B#,M ?''< $Q$ >’&D. 'A >!!*'& /#%&,!? >#' ,%&*, ’&. R?!A# &!/* >!!*'&#* M 'F?! /'"&#E# '%/,. !"#. ! %. 4.1 >#/!#F /#E# #'$ >!!*'&!* &!/#E# /'"&,: x %,*! /'"&, %&!#&D 150 000 (Loan Amount = 150 000,00); x $?! #*! /'"&#E# >#@'&! — 23 % (Interest Rate = 23); x &'*$ — 5 #/$ (Loan Length = 5 Years);

%. 4.1. G#*! /!FD/,F&#! /'"&$ 46

. .

x >'$#"?$%&D /'"&B '%/$ — >$#/, (Payment Frequency — Twice a year); x /'"& >#$%&I %>F!?,M&D% /'"&* '%/!* (Balloon Amount = 0,00); x >#F' Payment Amount ##C$*. !&%/!$ ! /F!$Q, Calculate /!FD/,F&# /'"&$ #K?%FIM 'F?, /'"&#E# '%/,: 26 006,58. #%&,!? *#C' >$"K!& >#&$K$ >!!*'& /'"&,, #"? >#&$K$ <!?' A #?N!I? #<!B,/#$ >#F. J"! >#KF'*! >#FE!M &#*,, N# > B#"$ < #* /!FD/,F&#! %$ A#E# >!!*'& &!?!I&D%. F!$Q! Clear All #?N!M %$ >#F, >#'&!I? * %&!"!&$ <!?'. F!$Q! Report "#<#FM #"'C!& <$& ># %B'*, %>F!& /'"&, , EF"$, !'"'#*, &!KF. 4.1. 9 $! 4.1

$1 ' $"$""? $%! Loan Amortization Schedule Loan Amortized at 23 % Payment Date

Payment Number

Amount

Principal

Principal Interest

Opening Balance

Balance

150 000,00

31.08.2003

1

26 006,58

8 756,58

17 250,00

141 243,42

29.02.2004

2

26 006,58

9 763,59

16 242,99

131 479,83

31.08.2004

3

26 006,58

10 886,40

15 120,18

120 593,43

28.02.2005

4

26 006,58

12 138,34

13 868,24

108 455,09

31.08.2005

5

26 006,58

13 534,24

12 472,34

94 920,85

28.02.2006

6

26 006,58

15 090,68

10 915,90

79 830,17

31.08.2006

7

26 006,58

16 826,11

9 180,47

63 004,06

28.02.2007

8

26 006,58

18 761,11

7 245,47

44 242,95

31.08.2007

9

26 006,58

20 918,64

5 087,94

23 324,31

29.02.2008

10

26 006,61

23 324,31

2 682,30

0,00

GRAND TOTAL

260 065,83

150 000,00

110 065,83

0,00

F!$Q! Compare Loans %&#IM ! '/!$ N' #", #*, /!FD/,F&#! /'"&$, "#<#FI? >#$I!& '<,FD&!& #<!B,/$ "#B /'"&$.

47

F!$Q! Extra Payment ><!?'! "F "#%/#!F' %B'* #<!B,/,, !"!I? /#%&,!?, *#CF$%&D #K& "#"!&/#$ >F!&, <*'Q,I? &!/* ?#* %>F!?,!A >#@'& !K# !$&D %/##?,I? &'*$ >F!& /'"&,. ! %. 4.2 !'"'# #*, "#"!&/#B '%/$, /! "#<#FM #<!B,!& >F ! #<EF,&A /'"& "#"!&/##E# '%/, $ 2000 (>#F' Extra Amount), N# #K&D% N##/, (>#F' Frequency), >#?!I? < 1 %$? 2004 #/, (>#F' First Payment Date). F #<!B,/, #B >!!*'&$ /'"&, %F,C&D /F!$Q! Calculate. / "# < @D#E# >/F!",, "#"!&/#$ '%/ "#<#FI&D <*'Q& >#@'& ! $ 6198,58 (>#F' Interest you would save). #$?A '%#/ , #<*$$ $ 4000 "#<#FM ' FQ' <'/##*& $ 12150,57 ! >#@'&!B, !F' A ! >$#/, %/##&& &'*$ /'"&, (>#F' New Last Payment Date).

%.4.2. G#*! "#"!&/#B '%/$ /!FD/,F&#! /'"&$

>%#/ K#, Frequency >#>#,M & !$!& ?!%&#& '%/$: x Only once — FQ' #" !<; x Twice a year — "$?$ ! $/; x Yearly — N##/,. F!$Q! Back >#'&!M /#%&,!?! , $/# /!FD/,F&#! /'"&$. 48

. .

4.3. &(& & $ !FD/,F&# #$& "! !$!& "#E#&'*$#B /'"&$ $ K!& /!NA, #>&*$<,I? #%#$ B >!!*'&: x >#?!&/#A '%#/; x N#*$%?A '%#/; x &'*$ /'"&,.

>#@'%$ !!*'& /'"&$: x @$! >"K! #K’M/&! (Purchase Price) — @ @$! M"! "F #K#B !$!&$ #<!B,/,, $Q$ >!!*'& "F /#C#E# /'"&, %#; x >#?!&/#A '%#/ (Down Payment) — #@'&#* $" @$ >"K! #K’M/&! (&>## 10 %, 20 %, 30 %) !K# !K%#FI&#I 'F?#I; x &'*$ /'"&, (Mortgage Length) — *$IM&D% #/!B !K# *$%@B; <!?' $"/'%FIM #$M&!@$I /!FD/,F&#! ! "#E#&'*$#$ /'"&; x F!?,M&D% >$%F A#E# !/&/,M&D%, &#K&# F!?,I&D% >#$%&I >#&E#* &'*$, /'"&,, #&C', @'A >!!*'& '/#*'",M&D% #@'& (Interest Rate); x Canadian Mortgage — >''*/!?, /A "#<#FM !B,!& #%#KF#%&$ /!!"%D/#E# #@'& ,/&, /$ FI&D %#K#I >#@'& $" %,* /'"&, $ !F'C!&D /'"&#, / >F!&! /F!" EF$, # ' >!/&/,I&D% (&#K&# ,FD#$); ,/&, &* *'QA /'"&A >#@'&; x Loan Service Fee, Fixed Loan Fee — >F!&! ,/&!*, !F' , EF"$ !K%#FI&# 'F?; x Closing Costs — !&$%&D #K%F,E#,!* /'"&, — @' >#E#<!, #@$#?! !&$%&D ##*F' /'"&B <$&$ (credit reports), #@$#/ &! "#$"#/ (appraisals), >#'"' <$D (inspections) &#N#. $%F '%' >''F$?'B "!B /!FD/,F&# !!*'& /'"&,:

49

x Total Initial Costs — #?!&/#$ &!& — >$"%,*#/ >#?!&/##E# '%/,, >,/&$, >F!& #&E#* ,%D#E# &'*$, /'"&,; x Annual Percentage Rate, APR, Estimated APR — ''/&, >#@'&, %&!/,. '/&! >#@'&! %&!/! $"$<M&D% $" #*$!FD# "#*! *#*'&!*: #! >'"'! "# $?#E# >'$#", $ !B#,M #?!&/#$ &!&; /N# #?!&/#$ &!& ,FD#$ $ #*$!FD! /'"&! %&!/! M $?#I, &# ''/&! /'"&! %&!/! #$ /'"&$ M ''/&! >#@'&! %&!/!: ?* #! *'Q', &* /'"& E$"$QA K#C/,. /N# /#%&,!? >F!,M ?''< "'/A ?!%, !F' "# >## >F!& /'"&,, >#"!& !K# >''"K!A , /'"& #K’M/&, &# ?'E##*, "$!F#E##*, $/$ /!FD/,F&#! #$ "#B !$!&$ /'"&, &,& >#&$K# '%& 'F?,, ' K$FDQ, #&$K# !&%,& ! /F!$Q, Calculate. !F$ /!FD/,F&# !!*'&: Total of Payments — F!&'C$, /$ K,",&D <#KF'$ ''EF,&, ''/&, >#@'&, %&!/,; /N# #?!&/#$ &!& ,FD#$, &# #K"$ %&!/ — >''EF,&! &! #E$!FD! — !!*'& "'N# $"$<I&D%. F #<!B,/, #@'&$. #<EF'*# >!!*'& /!FD/,F&#!: x Saving Goal Amount — @' K!C!! /$@'! %,*!
. .

x When You Want to Reach Your Goal — &'*$ #?!&/##E# '%/,; x Annual Return on Saving — $?! >#@'&! %&!/!; x Regular Contribution Amount — 'F?! >'$#"?#E# '%/,; x Frequency of Contribution — >'$#"?$%&D #N!"B '%/$ ($">#$"!M !$Q' #>%!$A >'$#"?#%&$ #N!"B '%/$). / $ /!FD/,F&# /'"&$, /!FD/,F&# ’& ?%F#B >!!*'&$ /F!", 'F?! >'$#"?#E# '%/,). F @D#E# >#F' #<!B,/##E# >!!*'&! >#&$K# #?%&&, #Q $Q$ >#F /!FD/,F&#!, $ !&%,& ! /F!$Q, Calculate. F!$Q! Clear All #?N!M %$ >#F /!FD/,F&#!. F!$Q! Inflation "#<#FM '%& #*, $?# $F@$ (Annual Inflation Rate), #<!B,!& >!!*'& #/!F &!& $" $F@$, $ >#$& < >#?!&/#*. F!$Q! Calculate #<!B#,M #$ >!!*'& #$II&D% >!!*'& "#B !$!&$ #<!B,/, (Your Original Plan — K'< /#*>'%!@$ $F@$, $ Revised Plan — < /#*>'%!@$MI >F, $F@$): x /$@'! %,*! '$#"?#E# '%/, (Regular Contribution); x "%/#&#!! /$@'! %,*! <!?'A "F #<!B,/, >!!*'&$ "#"!&/## >'%$, /, /#C! $<?! #%#K! *#C' %#K$ '?&, %>F!?,I? "#K#$FD$ '%/ '"'C!A >'%$AA #". #<EF'*# #%#$ >!!*'& @D#E# /!FD/,F&#! &! %@'!$A A#E# #K#&. >,%/!M&D%, N# %$ >'%$A$ '%/ *!I&D #"!/#, 'F?, $ '<*$, >'$#"?$%&D. '%$ &!/#C >F!?,M&D% >'$#"?# $ #"!/##*, #<*$$. ! >'Q$A %&#$@$ >'%$A#E# /!FD/,F&#! /#%&,!? #&#?A $/ /#%&,!?! (, #/!B), &#?$Q', $/, /#*, $ >F!,M >#?!& #K& 'E,F$ '%/ >'%$AA #";

51

x Retirement Age — >'%$AA $/ (, #/!B) — $/, /#*, $ >>&D #K& >'%$A$ '%/ $ >#?' #"'C,!& >'%$I; x Life Expectancy — &!F$%&D C&& ( #/!B) — $/, "# /#E# $ >F!,M #"'C,!& >'%$I. R! A*!M >'%$AA $/ 65 #/$, ! &!F$%&D C&& 85 #/$. F >/F!", %&!#*# >#&#?A $/ ! 20 #/$. ' #<!?!&*', N# /#%&,!? >F!,M #K& >'%$A$ '%/ >#&E#* 45 #/$, ! >#&$* /#%&,!&% >'%$MI >#&E#* !%&,>B 20 #/$. ! ",E$A %&#$@$ /!FD/,F&#! >#&$K# <!?& K!C!A #<*$ >'%$ (Retirement Income Goal) $ >'$#"?$%&D >F!& (Monthly — !< ! *$%@D, Annually — !< ! $/), ! &!/#C >#&#?, 'F?, >'%#!FD#E# >'%$A#E# !B,/, (Current Savings). #?!&/#! 'F?! >'%$A#E# !B,/,, / >!F#, ,FD#!; ',FD#! %,*! *#C' K,&, /N# >'%$AA !B,#/ K, ,&#'A !$Q' $ ! D#*, C' !E#*!"F!% >'! %,*! '%/$ !K# /N# ! >'%$AA !B,#/ >''!B#,M&D% /F!" < $Q#E# K!/$%D/#E# !B,/, /#%&,!?!. ! &'&$A %&#$@$ #<&!Q#,I&D% "$ #* >#@'&!, /A >#>#,M >'%$AA #", — ! >'$#" %>F!& '%/$ $ ! >'$#" >F!& >'%$. 'Q! #*! >#@'&!, !>'#, M K$FDQ#I $" ",E#. R! #>#,M $">#$"# 9 % &! 6 %. ! ?'&'&$A %&#$@$ /!FD/,F&# >$"%,*#,M '#KB$"A #<*$ >'%$A#E# /F!",, "F &#E# N#K /#%&,!? #"'C,! >'%$I #&E#* '$#"?$%&I. !>/F!", /N# K!C!! >'%$ %&!#&D 1000 E#Q#B #"@D $ /#%&,!? B#?' #"'C,!& N#*$%@ >#&E#* 20 #/$ #@'&! >'%$A#E# #", 6 %, &# '#KB$"A #<*$ >'%$A#E# !B,/, (Your total savings …) — 141 384,31 E#Q## #"@$. ! @$A %!*$A %&#$@$ /#%&,!? *#C' #&E#* %D#E# ?!%, ,/@$#,! >'%$A#E# !B,/, (Annual Inflation Rate). R! #>#,M #*, $F@$ 3 % $ $"!<, #<!B#,M $'D >'%$ (Revised Goal), /A $">#$"!M '"'#*, !$Q' K!C!#*, %D#E#"$QD#*, $I 1000 E#Q#B #"@D: $" 3781,60 , $@$ 65 #/$ "# 6829,98 E#Q#B #"@D , $@$ 85 #/$. ,& C' >$"!B#,M&D% $ '#KB$"A #<*$ >'%$A#E# !B,/,: 687 955,75 E#Q#B #"@D. #%&,!? *#C' '%& $Q, #*, $F@$ $ #*#E#I /F!$Q$ Calculate >''!B,!& %$ >#/!</. 52

. .

! !%&,>$A, >’&$A, %&#$@$ /!FD/,F&# #<!B#,M #<*$ *$%?#E# '%/,: x K'< ,!B,! $F@$ $ %&!#&D 104,77 E#Q## #"@$ (F$! >#F#! %&#$/, Level); x !! >#F#! %&#$/, Growing). C?' /!FD/,F&# #<!B#,M N' "$ !CF$ 'F?, %>$$"#Q' /B /!A/!N' !E$&,M '%$A$ !B,/: 9!E#*!"C', %,*, '%/$ (Total Contribution); > '"'B "!B K'< ,!B,! $F@$ #! %&!#&D 56 573,97, ! < ,!B,!* — 82 581,57; 9>#@'& >'$#" !E#*!"C' (Return on Savings); K'< ,!B,! $F@$ # %&!#F&D 631 381,78, ! < ,!B,!* — 605 374,19. ^#%&! %&#$/! >#>#,M <$& < "'&!FD* #<!B,/#* $?B '%/$, >#@'&$ &! 'F? >'%$A#E# #", , "#B #*!B — K'< ,!B,! (Show Level Contribution) &! < ,!B,!* $F@$ (Show Growing Contribution). 4.6. &(& ' !FD/,F&# >#@'&$ "#<#FM #<!B,!& >#@'& $" #&#?#*, K!/$%D/#*, !B,/, ! >$"%&!$ "!B ># &!%!/@$ C,!F$ !B,/,. !/* ?#*, @'A /!FD/,F&# M #%#KF* $ K'' $#*!@$I ' FQ' < >#F$ ,'"', ! A (E#F#* ?#*) < K!< "!B. F K#, !B,/, %F,C&D %>%#/ Account. #F From $ To #?!&#/ &! /$'@D $&'!F, #<!B,/, >#@'&$. #%&,!? >#' '%& &!/#C "$ #* >#@'&! (/$ #K,*#F'$ ,E#"$ < K!/#*): "F "#"!&#E# $ "F $"’M*#E# %!FD"# /#Q&$ ! !B,/,. !/* ?#*, /N# %!FD"# ! !B,/, >#&E#* /#E#%D ?!%, K,F# "#"!&', &# K!/ >F!&&D F!&&D K!/#$. R! #>#,M #K"$ #* ! $$ 3 %. $%F '"' %$B '#KB$"B "!B >#&$K# !&%,& ! /F!$Q, Calculate. '<,FD&!& <’&D% >#F$ Estimated Interest Amount. F!$Q! Copy >''#%&D A#E# K,', "!I? *#CF$%&D >$"%&!#/ %,* >#@'&$ K'<>#%''"D# &!%!/@$I.

53

4.7. $ #%&,/&# /'"&#E# !B,/, ><!?'A "F "#>#*#E /#%&,!?!* 'M%&!@$ /'"&, $ >#’F!&'C$. F!&'C$ >F!,I&D% , EF"$ >'$#"?# &!%!/@$, /! %/F!"!M&D% < "#B /#*>#'&: >#@'&$ &! %>F!& K#E,. #%&,/&# /'"&#E# !B,/, ",C' KF'$#"?, &!%!/@$I. 'Q$ "$ %&#$/ /#%&,/&#! M $#*!@$A* $ >#$"#*FI&D, N# >#?!M&D% '&!> # /'"& (General Information). ! &'&$A %&#$@$ /#%&,!? <!?!M !>*#/ E#Q#B >#&#/$. F @D#E# >#&$K# >#%&!& >''*/!? #"' < "#B >#F#C'D: x Borrowing Money — >#<?& E#Q$ , /#E#%D (/#%&,!? %&,>!M #F$ >#<?!FD/!); x Lending Money — >#<?& E#Q$ /#*,%D (/#%&,!? %&,>!M #F$ /'"&#!). ! ?'&'&$A %&#$@$ /#%&,!? &!/ ? $!/Q' $"'&$/,M /'"& (Loan Name) $ <!?!M /'"&#! (Receive Payments From) !K# K#C/! (Make Payments To) $">#$"#. ! >’&$A %&#$@$ #*#E#I "#>#<@$A#E# >''*/!?! >#&$K# <!?&, ? K,F C' <#KF'$ /$%D >F!&'C$ "F >#E!Q' @D#E# /'"&,, ! /N# &!/, &# ? #%&#& !C!&*'*#, N# /'"& N' ' %>F!?,!%, "F @D#E# >''*/!? >#&$K# >#%&!& >#F#C' No, payment have not be made. ! Q#%&$A %&#$@$ /#%&,/&#! <!?!M*# "!&, >'Q#E# /'"&#E# >F!&'C, (Due Date). D#*! %&#$/! M $#*!@$A#I $ >#$"#*FM ># >#?!&#/ '&!>, #<!B,/, >!!*'&$ /'"&, (Calculate Loan). ! #%D*$A %&#$@$ >#&$K# <!?& ?!%&#&, /'"&B '%/$ (Paid How Often). #CF$ !$!& ?!%&#& '%/$ &!/$ %!*$, / $ /!FD/,F&#$ /'"&$, %&!"!&' <!?' — N#*$%?$ '%/ (Monthly). ! "'’&$A %&#$@$ #<&!Q#!A &>#<@$AA >''*/!?, /A <!?!M, / #K?%FII&D% >#@'&: x B#"? < "!&, /#F '%#/ >#&$K# %>F!&& (Based on Date Payment is Due), %&!"!&A K$; x B#"? < "!&, /#F /'"&# #"'C,M '%#/ — Based on Date Lender Receives Payment; x "$?$ ! $/ (/!!"%D/!
. .

! "'%&$A %&#$@$ >#&$K# '%& %,*, /'"&, (Loan Amount), ! #"!"@&$A — #*, /'"&#E# >#@'&! (Interest Rate), ! "!!"@&$A — &!F$%&D /'"&, (Loan Length), /! *$I!&*'&D% #/!B (Years) !K# >F!&'C!B (Payments). ! &!"@&$A %&#$@$ /#%&,!? *#C' '%& 'F?, /'"&#E# '%/, (Principal + Interest), /A M >#%&$A* >#&E#* ,%D#E# &'*$, /'"&,. / $ /!FD/,F&#$ /'"&$, 'F?! /'"&#E# '%/, M #%#* #<!B,/#* >!!*'&#*, &#*, /#%&,!? *#C' #F' >##C$*, N#K >!/'& #<!B,! A#E# %!*, $ !&%,& ! /F!$Q, Next. ! !%&,>$A, ?#&!"@&$A, %&#$@$ #<&!Q#!# >#F' "F #%&!D#E# '%/, (Balloon Amount), /A #B#>FIM '%D #F' &'C *#C' K,& #<!B#!' >!/'&#*, &#"$ A#E# >#&$K# ##C$* $ !&%,& ! /F!$Q, Next. F$" #F$, ! ' #K"!, &#*, FQ' #"' < B *#C' #'*. #%&,!? *#C' <E#"&% < '<,FD&!&!* #<!B,/, !K# /F!$Q!* Back >#',&% "# >#>''"$B /#/$, <*$Q >!!*'& /'"&,. ! >’&!"@&$A %&#$@$ /#%&,/&# >$"%,*#,M "!$ ># /'"&, ! ! Q$%&!"@&$A >#$"#*FM ># >''B$" "# &'&D#E# $ #%&!D#E# '&!>, #K#& — ,>!F$ >F!&'C!* (Manage Payments). ! %$*!"@&$A %&#$@$ >#&$K# K!& /!&'E#$ &! >$"/!&'E#$ "F #KF$/, /'"&B >F!&'C$ — #/'*# "F >#'' /'"&, (Principal Category, Principal Subcategory) $ %>F!& >#@'&$ (Interest Category, Interest Subcategory). ! $%$*!"@&$A %&#$@$ /#%&,/&#! #<&!Q#!! /F!$Q! «Other Fees…», /! ><!?'! "F 'M%&!@$ $QB >F!&'C$, /$ B#"&D "# %/F!", /'"&#E# '%/, (%&!B,!, ##*F' >F!&'C, &#N#). $ >F!&'C$ #%&D% &, %!*, %/F!", &!%!/@$I, N# A !$Q' #'' /'"&, $ %>F!&! >#@'&$. ! "'’&!"@&$A %&#$@$ #<&!Q#!# >''*/!?, /A <!?!M, ? >#&$K# ,&#I!& >'$#"?, &!%!/@$I, /! K !E!",!F! ># ?!% %>F!& '%/$ $ %>#%&F! B 'M%&!@$I K!<$ "!B >!/'&!. /N# &!/, &!%!/@$I >#&$K# ,&#&, &# /#%&,!? >#' %&!#& >''*/!? , >#F#C' x Yes, remind me $ <!?& "#"!&/#$ >!!*'& — Next Payment Due Date ("!&! !%&,>#E# !F'C#E# "# %>F!& '%/,) $ Pay from Account (!B,#/, < /#E# >F!?,I&D% '%/) !K# Deposit into Account (!B,#/, ! /A >A*!I&D% '%/). '$#"?! &!%!/@$ K,"' ,&#'! &#?# ! #<!B#!, /$FD/$%&D '%/$. #%&,

55

!? *#C' ' ,&#I!& >'$#"?# &!%!/@$, "F @D#E# >''*/!? >#&$K# >#%&!& >#F#C' x No, do not remind me.

%&!, "!"@&!, %&#$/! /#%&,/&#! >$"%,*#,M %$ >!!*'& /'"&,. F ,&#' /'"&#E# !B,/, $ F!#!B >'$#"?B &!%!/@$A >#&$K# !&%,& ! /F!$Q, Create. F <*$ >!!*'&$ /'"&#E# !B,/, *#C! %/#%&!&% @* %!** /#%&,/&##*, /A *#C! /F/!&, K!Q !B,#/ #*#E#I *''"C'! !B,/$. !F$ >#&$K# >#%F$"## !&%,& ! /F!$Q$ Account Details $ Change Loan Information. &#$/, /$ /#%&,/&# >#>#,M /#%&,!?'$ 'C*$ /#E,! >!!*'&$ "'N# $"$<I&D% $" #>%!B N'. ! ",E$A %&#$@$ #<&!Q#!# ?#&>#<@$AA >''*/!?, /A "#<#FM /#%&,!?'$ /!!!*'& /'"&, $ B#&$ K <*$&: x Other Fees — $Q$ >F!&'C$ (&!/$ / %&!B#$ '%/ ? >F!&! #@'&, %&!/,; x Loan Balance — !!*'&. !%&,>! %&#$/! "#<#FM '%& "!&, (Effective Date) '%' <*$ , >!!*'& /'"&#E# !B,/,. $ <*$ ' *#C,&D & C' <"$A%'B >F!&'C$ $ %&#%,I&D% FQ' *!AK,&$B, &#*, "!&! <*$ >#! K,& $&'!F$ ?!%, $" #%&!D#E# <"$A%'#E# >F!&'C, "# /$@ &'*$, /'"&,. !F$ /#%&,!? *#C' E#&!& C' <!A#*$ %&#$/ /#%&,/&#! $
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59

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%$ "!$, !>' &#N#) #<&!Q#,I&D% K!<$ "!B. $ "!$ *#C! $"#K!<& ' '/!$ "F >''EF", ? ",/, FQ' #*#E#I <$&$. R$& "#<#FI&D ' &$FD/ $"#K!<& "!$, ! A %%&'*!&<,!& B (>#"/,!&, <E,>,!&, %#*,!& >$"%,*/, $"$FD&,!& &#N#). $FDQ$%&D <$&$ *!I&D "$ #* >#"!: &'/%&#, &! E!$?,. $FDQ$%&D <$&$ >!/'&! <$K!# <$&, >$"%%&'*, (Print and Chart Gallery), /, /#%&,!? >#&!>FM #*#E#I /F!$Q$ Report & Chart Gallery. R$&! >$"%%&'*! MS Money %/F!"!M&D% < &!/B >’& E,> <$&$: x Spending Habits — <$& ># "#B#" &! &!& («#%/"'$ &!&»); 60

. .

¾ Where the Money Goes — <$& ># &!& («," A",&D *# E#Q$»); ¾ Who is Getting My Money — ,# "#B#" &! &!& («{&# #"'C,M *# E#Q$»); ¾ Monthly Cash Flow — <$& ># E#Q#A #K$E («$%?A E#Q#A >#&$/»); ¾ Account Transactions — <$& ># &!%!/@$ < C,!F, !B,/,; ¾ Income Vs. Spending — "'&!FDA <$& ># "#B#" &! &!&; ¾ My Budget — <$& ># KI"C'& "#B#"$ &! &!& («$A KI"C'&»); ¾ How I’m Doing on My Budget — <$& ># /#! KI"C'&, "#B#"$ &! &!& («/ /#,I %$A KI"C'&»); x What I Have — <$& ># !/& &! >!% («# *!I»); ¾ Net Worth — >F!&$CA K!F!% («[%&! !&$%&D»); ¾ Account Balances — >F!&$CA K!F!% («!F!% !B,/$»); ¾ Account Balance History — <$& ># $%&#$I <*$ # '/$<& !B,/,; x What I Owe — <$& ># >F!#$ &!& («# '»); ¾ Upcoming Bills — !B,/, ?!% #>F!& /B !%&!; ¾ Upcoming Bills and Deposits This Month — !B,/ "# %>F!& ( >#&#?#*, *$%@$) &! F!#!$ !"B#"C' /#Q&$; ¾ Credit Card Debt — <$& ># # >!!*'& /'"&$; ¾ Loan Amortization — <$& ># F!#!, %>F!&, >#@'&$ ># /'"&!B; x Investment — <$& ># $'%&@$; ¾ Portfolio Value by Investment Account — <$& ># !&$%&D >#&'F #<$<$ $'%&@$AB !B,/$; ¾ Portfolio Value by Investment Type — <$& ># !&$%&D >#&'F #<$<$ &>$ $'%&@$A; ¾ Performance by Investment Account — <$& ># "#B#" #<$<$ $'%&@$AB !B,/$; ¾ Performance by Investment Type — <$& ># "#B#" #<$<$ &>$ $'%&@$A; ¾ Price History — <$& ># $%&#$I @$ @$B >!>'$; ¾ Investment Transactions — <$& ># $'%&@$A$ &!%!/@$; x Taxes — <$& ># >#"!&/; ¾ Tax-related Transactions — #>#"!&/#,!$ &!%!/@$; ¾ Capital Gains — /!>$&!FD$ "#B#"; ¾ Loan Interest — /'"&$ >#@'&; ¾ Tax Software Report — <$& ># >#"!&/.

61

F >#K,"# <$&, !/'&! MS Money $%,I&D , "#B #*!B — &'/%&#$A (Report) &! E!$?$A (Chart — "$!E!*!). #%&,!? *#C' #>'!&# >''B#"& $" #"# #* "# $Q#, !/@'&,I? ,!E, ! "'&!FB ? ! !!*'&$ (#*! Customize). 5.2. ') !AC' %$ <$& MS Money *#C,&D K,& >#K,"#!$ , "#B #*!B — &'/%&, (Report) &! "$!E!* (Chart). R$& &'/%&##*, EF"$ FI&D %#K#I &!KF@$, /B >'$ #K’M/& "!B (!>/F!" /#&!E'&) $"#K!C!I&D% "/!*, $Q$ — %&#>?/!* (!>/F!", /!&'E#$). #C' <$& $"#K!C!M&D% &#*, EF"$, /#*, $ K, >#K,"#!A /#%&,!?'* >$" ?!% #%&!D#E# %'!%, #K#& < >!/'&#*, !K# %&!"!&#*, EF"$, /N# /#%&,!? K,",M A#E# >'Q'. F @D#E# >!!*'& /#C#E# <$&, !*’&#,I&D% >!/'&#* >$" ?!% /#C# A#E# >#K,"#. %>%/, <$&$ &$ <$&, >!!*'& /B K,F# <*$'#, $"<!?!I&D% >$/&#E!*#I KF#/#&!. F <*$ >!!*'&$ <$&, !!*'& %$B <$&$ >A*!I&D% %&!"!&*. *#"$/!@$ %&!"!&B >!!*'&$ <$&, A#E# /F!$Q! Customize $"<!?!M&D% <E!"!#I C' >$/&#E!*#I KF#/#&!. #<$<I&D & E,> >!!*'&$ <$&$: x >!!*'& "!B; x >!!*'& <$&$ , #*$ &'/%&,; x >!!*'& <$&$ , #*$ "$!E!*. F!$Q! Reset ! #*$ >!!*'&$ <$&, $"#FIM A#E# %&!"!&$ >!!*'&. ''" >!!*'&$ <$&$ *#C! "$F& '@$?$ "F >'#E# <$&, ? >'# E,> <$&$. #<EF'*# >!!*'&, /$ M %#/ K#, Rows
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x >%#/ K#, Columns ?/. x !>#'@D Show splits <!?!M 'C* $"#K!C' %/F!"B &!%!/@$A. >$"&#*, >!>#@$ , <$&$ $"#K!C!I&D% %$ /#*>#'& &!%!/@$A, > #>,N'#*, %/F!"! &!%!/@$ >#"!M&D% $"%,*/#* /#*>#'&. x !>#'@D Sort by Amount — >#"/,!& <$& !"!*); $!/Q' <$& >#"/#,I&D% #'@D Combine all values under … % of Total *#C! !<!& «$'D &'>F?#%&$», «#<"$FD?! <"!&$%&D» — >!!*'&, /A ! "!& Date range, /! #?!&/## "!& (From) $ "# /$@'# (To); "F >#F'EQ' K#, &>#B $&'!F$ "!& %#/ K#, Dates < &!/* <!?'*: ¾ All Dates — ,%$ "!& (' $FD&,!& &!%!/@$ K#$ @D#E# 'F'*'&! >#F #* From $ To #?N!I&D%; ¾ All To Date — ,%$ >#>''"$ "!& !C "# %D#E#"$QD#E# "; > K#$ @D#E# 'F'*'&! >#F' #* From #?N!M&D%, ! >#F' To >%,M&D% %D#E#"$Q "!&!; ¾ Current Month — >#&#?A *$%@D; , >#F' From %,M&D% "!&! >'Q#E# ", ! >#F' To — "!&! #%&!D#E# " >#&#?#E# *$%@; ¾ Current Year — >#&#?A $/; , >#F' From %,M&D% "!&! >'Q#E# ", ! >#F' To — "!&! #%&!D#E# " >#&#?#E# #/,; ¾ Month To Date — ,%$ >#>''"$ "!& >#&#?#E# *$%@ !C "# %D#E#"$QD#E# "; >#F' From %,M&D% "!&! >'Q#E# " >#&#?#E# *$%@, ! , >#F' To — %D#E#"$Q "!&!; ¾ Year To Date — ,%$ >#>''"$ "!& >#&#?#E# #/, !C "# %D#E#"$QD#E# "; >#F' From %,M&D% "!&! >'Q#E# " >#&#?#E# #/,, ! >#F' To — %D#E#"$Q "!&!; ¾ Previous Month — >#>''"$A *$%@D; , >#F' From %,M&D% "!&! >'Q#E# ", ! >#F' To — #%&!D#E# " >#>''"D#E# *$%@; ¾ Previous Year — >#>''"$A $/; , >#F' From %,M&D% "!&! >'Q#E# ", ! >#F' To — #%&!D#E# " >#>''"D#E# #/,; ¾ Last 30 Days — #%&!$ 30 "$; , >#F' To %,M&D% %D#E#"$Q "!&!, ! >#F' From — $">#$"! "!&! >#>''"D#E# *$%@, /! $"%&!M $" %D#E#"$QD# $# ! 30 "$; !>/F!",

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/N# %D#E#"$ 17 C#& 2003 #/,, &# >#F' From >!/'& #F' To %,M&D% %D#E#"$Q "!&!, ! >#F' From — "!&! >#?!&/, &'&D#E# *$%@ $" >#&#?#E#; !>/F!", /N# %D#E#"$ 17 C#& 2003 #/,, &# >#F' From >!/'& 2003 #/,; ¾ Last 6 Months — #%&!$ 6 *$%@$; , >#F' To %,M&D% %D#E#"$Q "!&!, ! >#F' From — "!&! >#?!&/, Q#%&#E# *$%@ $" >#&#?#E#; !>/F!", /N# %D#E#"$ 17 C#& 2003 #/,, &# >#F' From >!/'& #F' To %,M&D% %D#E#"$Q "!&!, ! >#F' From — "!&! >#?!&/, "!!"@&#E# *$%@ $" >#&#?#E#; !>/F!", /N# %D#E#"$ 17 C#& 2003 #/,, &# >#F' From >!/'& !"! 2003 #/,; ¾ Custom Dates — "#$FD$ "!&; @'A 'F'*'& K!M %!* >!/'& , &#*, !<$, /#F /#%&,!? <*$IM %&!#F'$ >!/'&#* <!?' >!!*'&$ From $ To. x ,>! "$!F#E#B 'F'*'&$ Include transactions <!?!M, ? >#&$K# $FD&,!& &!%!/@$ %#/ K#, From account <!?!M, ? >#&$K# $FD&,!& &!%!/@$ #<@$AA >''*/!? All transactions / Select transactions <!?!M, ? >#&$K# $FD&,!& &!%!/@$ !!*'&!*: >@$ All transactions @D#E# >''*/!?! %&!#FIM 'C*, /#F &!%!/@$ !!*'&!* ' $FD&,I&D%; >@$ Select transactions >''*/!?! %&!#FIM 'C* $FD&,! &!%!/@$A !*, #*'!*, %,*!*, >F!&/!*, /!&'E#$* &#N#. /N# "/ (%&#>?/) <$&, '$#"), &# <$& >#"/#,M&D% ?/ $ ! #*$ A#E# >!!*'&$ >$"& >!>#'@D Sort by Amount, &# "/ <$&, K,",&D >#"/#,!&% !"!* ?%F#B 'F? , @D#*, %&#>?/,. /N# C <$& *!M "'/$FD/! ?%F#B %&#>?/$ $ #" < B M >$"%,*/#*, &# >#"/,! "/$ #K&D% $"%,*/!*. /N# !!*'&!B <$&, #K’M/& *!I&D $M!B$?, >#",, &# D#*, $"#K!C!I&D% / #K’M/& ,, &!/ $ B $M!B$ < $">#$"* >$"%,*/!*: 64

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x /N# !B,/$; x /N# /!&'E#$A; x /N# $"/!&'E#$A, &# , <$&$ $"#K!C!I&D% N' /!&'E#$ &! &> /!&'E#$A. / ,C' ''& !B,/$ < !B,/!* ? /!&'E#$A < >$"/!&'E#$*, >'$#"$ < >'$#"!*. 5.2.2. %& $)%) * +) %!,%* !!*'& <$&$ , &'/%&#$A #*$ <!?!I&D% /F!$Q!* Widths &! Fonts. F!$Q! Widths "#<#FM <!?& Q, %&#>?/$ &!KF@$ #*#E#I #* < &!/* K!E!&#>#<@$A* >''*/!?'*: x Automatic — Q! ?/; x Standard — %&#>?/ %&!"!&# Q; x Wide — Q#/$ %&#>?/; x Extra Wide — ",C' Q#/$ %&#>?/. F!$Q! Fonts <!?!M Q& !>%$ &! &'/%&#B 'F'*'&$ #*#E#I #* < "#*! /#*K$#!* %>%/!* K#,: x Font, /A #"!# @$F#I E,>#I "$!F#E#B $%&,*'&$: x >#<@$AA >''*/!? Chart type "$!E!*: ¾ Bar — %&#>?/#!; ¾ Line — F$$A!; ¾ Pie — /,E#!. x !>#'@D Show legend "#"!M "# "$!E!* F'E'",. x !>#'@D Show gridlines "#"!M "# "$!E!* E#<#&!FD, %$&/,. x !>#'@D Show in 3D <!?!M " "$!E!* — 3-*$! (/N# >!>#'@D >$"&A) $ 2-*$! (/N# $ #>,N'A). x #>#<@$AA >''*/!? Bar Options !!*'& %&#>?/#B "$!E!* (> $"#K!C'$ ! #"$A "$!E!*$ "'/$FD/#B 'F?): ¾ Clustered — E,>,!& %&#>?/ /#C# "/## 'F?;

65

¾ Stacked — !"K,"#,!& %&#>?/ /#C# "/## 'F?; x >#<@$AA >''*/!? Pie labels #@'&B ?!%&#/; ¾ Sterling amount —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et Worth, Account Balances — @' "$ KF#>,F$Q#E# <#$QD#E# <$&,, >F!&$C#E# K!F!%,. !!*'& Show balance as of <!?!M "!&, K!F!%,. ,>! >!!*'&$ Include <!?!M !B,/, /$ K,",&D $"#K!C!&%D , <$&$. >%#/ K#, Accounts <!?!M %$ <?!A$ !B,/ (Assets, Bank, Checking, Cash, Credit Card, Liability, Line of Credit, Other), %>%#/ K#, Loan Accounts — K#E#$ !B,/, %>%#/ K#, Investment Accounts — >'%$A$ &! $'%&@$A$ !B,/. >#<@$AA >''*/!? Level of detail <!?!M $'D "'&!FD#%&$ <$&,: x Accounts — !/& &! >!% K!F!%, $"#K!C!M&D% &'*$!B !B,/$; x Account types — !/& &! >!% K!F!%, <E#&!I&D% "# &>$ !B,/$; 66

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x Assets/liabilities — $"#K!C!I&D% FQ' #<"$F K!F!%, (!/&, >!%). 5.3.2. $)% (& ) &%%& R$& Where the Money, Goes, Who is Getting My Money, Income Vs. Spending — @' & #* &#E# %!*#E# <$&, ># "#B#" &! &!&, /$ $<&D% <!?'* !!*'&$. #<EF'*# "'&!FD$Q' @$ >!!*'& &! B <!?'. R$& Where the Money Goes *!M &!/$ <!?' >!!*'&$: x $FD&,! &!%!/@$A — #*: Selected transactions o Details o Payments (&#K&# #<EF"!I&D% FQ' &!&); x $"%,*/,, ' "'&!F$<,I&D%, ! >#"!I&D% #"* #K’M/&#* All Others); x >#"/,! "/$ <"$A%IM&D% !"!* %,*: Sort by amount o 9;

x #K’M/&!* "/$ M >$"/!&'E#$: Rows o Subcategories. R!?' @B %!*B >!!*'&$ , <$&$ Who is Getting My Money &!/$: x $FD&,! &!%!/@$A — '*!M: Include transactions o All transactions;

x <E#&! "$KB %,* ' ;

x >#"/,! "/$ <"$A%IM&D% !"!* %,*: Customize o Sort by amount o 9;

x #K’M/&!* "/$ M /#&!E'&: Customize o Rows o Payees. R$& Income Vs. Spending %&!#FIM &!/$ <!?' @B >!!*'&$: x $FD&,! &!%!/@$A '*!M;

67

Include transactions o All transactions;

x >#"/,! "/$ <"$A%IM&D%
x #K’M/&!* "/$ M /!&'E#$: Customize o Rows o Subcategories. Q$ >!!*'& <$&$ (, B %&!"!&$A #*$)
x #K’M/&!* %&#>?/$ %F,C!&D >$"%,*/: Columns o Total Only;

x "!$ K!I&D%
x $FD&!@$ &!%!/@$A # "#B#" &! &!& >#>#,M #<*$%&& ># '&/!F$ ( "/!B) #", < &!/B 'F?: x > !B,/$ (Account Types); x !B,/ (Accounts); x #&!E'& (Payees); x !&'E#$ "#B#"$ &! &!& (Categories); x $"/!&'E#$ /!&'E#$A "#B#"$ &! &!& (Subcategories); x C$ (Weeks); x $%@$ (Months). # E#<#&!F$ ( %&#>?/!B) #<&!Q#,M&D% #"! < &!/B 'F?: x $"%,*/ (Totals Only); x !B,/ (Accounts); x #&!E'& (Payees); x !&'E#$ (Categories); x C$ (Weeks); x #&C'$ >'$#" (Two weeks); x $*$%?$ >'$#" (Half Months); x $%@$ (Months); x !&!F (Quarters); 68

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x #/ (Years). R#<,*$F#, N# M %'% #<EF"!& >''& $<#&>B 'F?, ! ' %B#CB, !>/F!": x >''& &>$ !B,/$ < &C* "!%&D &!& < !B,/$ $<B &>$ , #<$<$ &C$; x >''& >$"/!&'E#$A < >$"%,*/!* "!%&D $"/!&'E#$A; x >''& /!&'E#$A < /#&!E'&!* >#/!C', ! /B /#&!E'&$ $"'%'$ &!& &B ? $QB /!&'E#$A $ /B #K%E!B. 5.3.3. $)% -7) %!& R$& ># E#Q#$ >#&#/ M N' #"* $< <#$Q$B <$&$ $ %F,C&D "F <!?' K!F!%##E# >K,&/,. R$& >#/!<,M !>*/ &!& &! "#B#"$ #<$<$ /!&'E#$A (, "/!B) &! >'$#"$ ?!%, (, %&#>?/!B). R! #&#/$ ,%,!I&D% $'%&@$A$ !B,/ &! "'/$ &!%'. !!*'& /!&'E#$A (Income — "#B$"$, Expenses — &!&$); x Categories — /!&'E#$; x Subcategories — >$"/!&'E#$. '$#" !E'E,! "!B ?/!B: x Total only — FQ' >$"%,*/; x Weeks — &C"'D; x Two weeks — "! &C$; x Half months — >$*$%@; x Months — *$%@D; x Quarters — /!&!F; x Years — $/. R! !/'& >#>#,M !E'E,! "!B , "/!B ! !AC?#*, (!A"'&!FD$Q#*,) $$ — $$ >$"/!&'E#$A, ! %&#>?/!B — ! !AN#*, — $$ >$"%,*/$. R! "#>#*#E#I 3->#<@$A#E# >''*/!?! C$A ?!%&$ #* >!!*'&!/'& "#<#FM <!?&, ? /FI?!I&D% E#Q#$ >#&#/ &!%': x Don’t include transfers — ' /FI?!& &!%'; x Include transfers to or from Asset or Liability Accounts — /FI?!& FQ' &!%' !B,/$ !/&$ &! >!%$;

69

x Include transfers to or from accounts that aren’t in the report — /FI?!& FQ' &!%' &B !B,/$, /$ ' >''"K!?'$ , <$&$. 5.4. , ,&$Q$ <$& ><!?'$ "F #@$/ $!%## "$FD#%&$ >$">M*%&! (#%#K). # /#%&#,I&D% >!@$/!* >$">M*%&! (#%#K#I) "F F!%B @$F'A $ ' 'EF!*'&,I&D% "'C!* %&!"!&!*. %&'*! MS Money >#>#,M &!/$ " ,&$Q$B <$&$: &!%!/@$A !B,/,, <$& ># KI"C'& &! A#E# /#!, <$& ># >!!*'& !B,/$ &! $. 5.4.1. 9,% %',!:)4 (*'!* Account Transactions ('M%& &!%!/@$A !B,/,) — @' ? ' M"A <$&, /A ' *!M #* "$!E!*. R$& FM %#K#I <?!AA %>%#/ &!%!/@$A. !F#E$?A '@$?$ >!!*'& @B <$&$. 'M%& &!%!/@$A *!M #K#’?/ (&!/$, N# *#C! /FI?& $ /FI?& >!!*'&$"%,*#/ %&!#* ! /$'@D &!%!/@$. ,>! >!>#@$ Include fields <!?!M '#K#’?/!B <$&,: i Memo — ><!?' >F!&'C,; i Account — !B,#/ &!%!/@$; i Cleared Flag — #<!/! %&!&,%, &!%!/@$; i Category — /!&'E#$ "#B#"$ &! &!&. >%#/ K#, Subtotal by <!?!M /&'$A E,>,! "/$ <$&, &! #*,! >$"%,*/$: x None — "/ >#"/#!$ B##F#E$?#, !F' ' E,>,I&D%; x Accounts — "F >#"/,! "/$ '* /FI?'* %F,C&D !B,#/ &!%!/@$, &#* — "!&!; >$"%,*/ K,",I&D%
. .

x Payee — "F >#"/,! "/$ '* /FI?'* %F,C&D /#&!E'&, &#* — "!&! &!%!/@$; >$"%,*/ K,",I&D% #"/,! "/$ '* /FI?'* %F,C&D /!&'E#$, &#* — "!&! &!%!/@$; >$"%,*/ K,",I&D% !* /!&'E#$A; x Subcategories — "F >#"/,! "/$ '* /FI?'* %F,C&D >$"/!&'E#$, &#* — "!&! &!%!/@$; >$"%,*/ K,",I&D% $"/!&'E#$*, /!&'E#$* &! &>!* /!&'E#$A; x Weeks — &!%!/@$ >#"/#,I&D% B##F#E$?#, E,>,I&D% #K,"##I >$"%,*/$; x Months — &!%!/@$ >#"/#,I&D% B##F#E$?#, E,>,I&D% #K,"##I >$"%,*/$. !>#'@D Display a running balance/total starting with <!?!M $"#K!C' , <$&$ >#&#?#E# !>#'@D >$"&#, &# >#&#?A ?/, <$&,. /N# >!>#'@D >$"&#, &# %>#%$K #K?%F' #<@$A* >''*/!?'*: i Total a prior transactions — >#?!& < K!F!%,, #<!B#!#E# ! >#?!&#/ >'Q# &!%!/@$; i Zero — >#?!& < ,FD##E# F! "#B#"$ $ &!& (F!,. F! "#B#"$ &! &!& *#C! %&#& "F %$B ? FQ' "'/B /!&'E#$A #*#E#I #>'!@$ Payees & Categories o Categories o Go to Details o See Budget. R!%&#%,! $%&,*'&$ >F!,! KI"C'&, ' /F/!M >#KF'*, !F' ",C' &,"#*$%&/', &#*, @D#*, >#%$K/, ' #<EF"!M&D%. 5.4.3. $)% %& (*'!) R$& ># >!!*'& !B,/$ (Account Details) *!M FQ' &'/%&#, #*, < ''F/#I /$FD/$%&I >!!*'&$. K#’!!*'&#* <$&, M !<! !B,/,, ! '#K#’!!*'&: x Abbreviation — %/##?'! !<! (!K'$!&,!);

71

x Account Balances — K!F!% !B,/$ — >#?!&/#A (Opening Balance) &! >#&#?A (Current Balance); x Bank Information — !<! K!/, (Bank Name) &! #*' !B,/, K!/, (Account Number); 5.4.4. )'7) $)%& '>' *#C! <',& ,!E, $ ! &$ <$&, /$ ' <E!"!$ *'I <$&$.

@'&$ #K#?#E# %&#F! !*@$ Chart of the Day ($!E!*! ") #K!?& #", < >’& !AK$FDQ >#*#%&B "$!E!*: x Assets and Liabilities — !/& &! >!%; x Income and Expenses — "#B#" &! &!&; x Current Assets — >#&#?$ !/&; x Expenses for Last Month — &!& #%&!D#E# *$%@; x Current Liabilities — >#&#?$ <#K#’
%. 5.1. $!E!*! "!*$/ K!F!%, !B,/,

G#*! /#C# < B '<*$! (@$ "$!E!* ' >!!*'&<,I&D%). 72

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! "$!E!*$ #K%E$ *#C! >#*$&& "! %>!F!B !/&#%&$ &#E$: , E,"$ 1999 #/, &! &!$ 2000 #/,. #CF#, # $">#$"!I&D "#* *!%Q&!K* #>'!@$* >#"!C, (/##&/#E# >#"!C,) !K# /,>$F$ !/@$A $">#$"# >#&,C* $'%&##* ($'%&@$A* #"#*, K!/#* &#N#). ! %.12.4 >#/!#*$C#E# &'", !/@$A IBM < $"'/%#* #,-C#%! (>#<!?/! DJIA >!#,? $" "$!E!*). #<!?/!* F$# '&/!FD# #%$ %F,C!&D @$ !/@$A IBM; $"'/% #,-C#%! #*,M&D% &!/, N#K >#?!&/ (F$$ /$@$ E!$/$) #*$CA &'" @$: A#E# >#%F$"#$ ,N'F >>!"!I&D ! /$&'D 1999 #/, &! F%&#>!" 2000 #/,.

151

%. 12.4. R$%&!F' $?# "!*$/ !/@$A IBM < $"'/%#* #,-C#%!

%. 12.5. #*K$#!! $&'!FD#-%&#>?/#! "$!E!*! < /##&/#&'*$#* @/F#* !/@$A IBM 152

. .

! %. 12.5 <#K!C'! 3-*$%?! "$!E!*!, ! /$A %# "# /##&/#&'*$#A &'" !/@$A $* IBM (#%#$ A#E# ,N'F >>!"!I&D ! 30 F%&#>!"!, 14, 31 E," 1999 ., 28 %$?, 29 FI&#E# 2000 .). $!E!*! %$"?&D ># &', N# "F !/@$A IBM B!!/&'$ %>!C$ #<, /$ >#"&D "# <*$ !>*/, &'", (1, 10, 31 E," 1999 ., 21 %$? 2000 .): ># %>!C$%&D #<, %$"?&D <#%&! #K%E$ &#E$ !/@$* IBM ! ##*, $$ @$. 12.6. ($ & & &( & '* ! %. 12.6 <#K!C'# >#?!&#/ Web-%&#$/ ,"!*'&!FD#E# !!F$<, !/@$A $* IBM. #%&,!? *#C' K!& #" < Q'%& "$ !!F$<,: 1. Growth Trends — '"'@$ <#%&! /#*>!$. ,& >#>#,M&D% >#$ &D#B !CFB B!!/&'%&/ $!%## "$FD#%&$ $*: x Revenue (Sales, &#E); x Net Income (Earnings, ?%&A >K,&#/); x Cash Flow (E#Q#$ >#&#/, K!F!%#A >K,&#/).

%. 12.6. R$%&!F' ,"!*'&!FDB B!!/&'%&/ !/@$A IBM

153

!F$< %>$$"#Q' @B >#/!</$ >#/!<,M, !%/$FD/ ,%>$Q# /#*>!$ <"!&! >''&#I!& "#B#" (profits) ! >K,&#/. 2. Financial Health — G$!%#' <"##’. ,& #<EF"!I&D% "! $!%#$ /#'$@$M&: x Total Debt/Equity — $"#Q' K#E$ "# /!>$&!F,; x LT Debt/Equity — $"#Q' "#E#&'*$#B K#E$ (Long-Term Debt) "# /!>$&!F, (Equity). 3. Management Performance x ROA (Return on Assets) — '&!K'FD$%&D ($""!?!) !/&$ — $"#Q' ?%&#E# >K,&/, "# $"%,*/, K!F!%,); x ROE (Return on Equity) — '&!K'FD$%&D ($""!?!) /!>$&!F, — $"#Q' ?%&#E# >K,&/, "# /!>$&!F, /#*>!$; x ROIC — '&!K'FD$%&D ($""!?!) $'%&@$A ($'%&#!#E# /!>$&!F,) — $"#Q' ?%&#E# >K,&/, "# $'%&@$A , /#*>!$I; &,& $'%&@$* !C!I&D >$"%,*#/ /!>$&!F, &! %$B <#$Q$B <#K#’
%. 12.7. @$/! !/@$A IBM !!F$&/!* 154

. .

4. Market Multiples — #<EF"!I&D% & $!%#$ /#'$@$M&: x P/E (Price on Earning) — $"#Q' >#&#?# /## @$ !/@$ "# ?%&#E# >K,&/, /#*>!$ >!"!M ! #", !/@$I; x P/S (Price on Sales) — $"#Q' >#&#?# /## @$ !/@$ "# &#E, /#*>!$ (Revenue, Sales) >!"!M ! #", !/@$I; x PEG (Price on Earning Growth) — Q"/$%&D <#%&! 'F? P/E; PEG — @' ",C' !CFA >#/!</ #@$/ >'%>'/&#%&$ !/@$A: /N# PEG < 1, &# !/@$ '"##@$'$ (undervalued) $ %F$" #?$/,!& <#%&! BD# @$; /N# PEG > 1, &# !/@$ >''#@$'$ (overvalued) $ %F$" #?$/,!& >!"$ B @$. 5. Intrinsic Value — ,&$Q !&$%&D !/@$A /#*>!$, /! $"K!M >#&'@$A$ *#CF#%&$ &! >F! #<&/,; 6. Summary — #/!</$.

%. 12.8. #E#< "#B$"#%&$ !/@$A IBM

155

! %. 12.7 !'"'# Web-%&#$/, < #@$/!* '/%>'&$ (Analyst) N#"# >'%>'/&#%&$ $'%&,! /!>$&!F, !/@$ IBM: %D#E#"$ 14 < 28 !!F$&/$ '/#*'",I&D /,>,!& B K'< ,%$F/B ,!& (Buy), 'Q&! ?#& '/#*'",I&D ' /,>,!&, !F' A ,&*,!&%D $" B >#"!C, (Hold); C#"' < '/%>'&$ ' '/#*'",M $ >#%&# >#"!& (Sell), $ >#"!& K'< %,*$$ (Strong Sell). /N# >%#& @* !$!&!* !E $" 1 "# 5 (<!C&), &# #"'C*# %''"I #@$/, (Mean): 1,59, /! %$"?&D ># #@$/, !/@$A IBM '/%>'&!* / ",C' >'%>'/&B. C?' ! @$A %!*$A Web-%&#$@$ !'"'# >#E#< '/%>'&$ N#"# *!AK,&$B "#B#"$ !/@$#'$ (%.12.8): ! >#&#?A (This Quarter) &! !%&,>A /!&!F (Next Quarter), ! >#&#?A (This Fiscal Year) &! !%&,>A >#"!&/#A $/ (Next Fiscal Year). ! %. 12.9 !'"'# #K!< '/!! < Web-%&#$/#I >#>##!B K$C#* '/%>'&!* !!F$&?B "#%F$"C'D !/@$A IBM.

%. 12.9. #>##!$ K$C#* '/%>'&!* !!F$&?$ "#%F$"C' !/@$A IBM 156

. .

9 $! 12.2 '" 'X#%' "# X#]"# ,X" '1"#( IBM > 1995—1998 . Balance Sheet Summary

Cash

Dec 1998

Dec 1997

Dec 1996

Dec 1995

US$ (mil)

US$ (mil)

US$ (mil)

US$ (mil)

(12-MOS)

(YEAR)

(YEAR)

(YEAR)

5375

7106

7687

7259

393

447

450

442

Receivables

18,958

16,85

16,515

16,45

Allowances

0

0

0

0

5,2

5,139

5,87

6,323

Current Assets

42,36

40,418

40,695

40,691

Property and Equipment, Net

44,87

42,133

41,893

43,981

Depreciation

25,239

23,786

24,486

27,402

Total Assets

86,1

81,49

81,132

80,292

36,827

33,507

34

31,648

0

0

0

0

10,121

8,601

7,752

0

Preferred Stock

0

0

0

253

Common Stock

247

252

253

7,447

Other Stockholders’ Equity

9,065

10,963

13,623

14,723

Total Liabilities and Equity

86,1

81,499

81,132

80,292

Securities

Inventory

Current Liabilities Bonds Preferred Mandatory

&!KF. 12.2 &! 12.3 !'"'# !E*'& <$&$ /#*>!$ IBM /#*$%$I < , /$ *$%&&D $#*!@$I ># K!F!% &! >K,&/ /#*>!$ #/!</$ /#*>!$, >#'"' !!F$<, $!%## "$FD#%&$ &! >''$/ %#/$ '/%>'&$ N#"# >'%>'/&#%&$ >"K! !/@$A. !F$ "#"!&/, !#"&D% ''F/A %F#?#/ &'*$#F#E$ <$&$, /* *#C! %/#%&!&% > !!F$<$ <$&#%&$ /#*>!$ IBM &! $QB !/@$#'B /#*>!$A.

157

9 $! 12.3 '" 'X#%' "# > # ' ,! >, '1"#( IBM 1995—1998 . Income Statement

1998

1997

1996

1995

Total Revenues

81,667

78,508

75,947

71,94

Cost of Sales

50,795

47,899

45,408

41,573

Other Expenses

21,708

21,511

21,943

22,776

0

0

0

0

Interest Expense

713

728

716

725

Income Pre Tax

9,04

9,027

8,587

7,813

Income Tax

2,712

2,934

3,158

3,635

Income Continuing

6,328

6,093

5,429

4,178

Discontinued

0

0

0

0

Extraordinary

0

0

0

0

Changes

0

0

0

0

Net Income

6,328

6,093

5,429

4,178

EPS Primary

$6.75

$6.18

$10.24

$7.23

EPS Diluted

$6.57

$6.01

$10.02

$7.05

Summary

Loss Provision

158

. .

0 /:;!;<:= >:"@;AB A::A Cash — E#&$/! ( K!/!B &! /!%$). Securities — (>,N'$ / %!*#I /#*>!$MI IBM, &!/ $ $Q* /#*>!$*). *#C,&D /#%&#,!&% >!/&?# !$$ < E#&$/#I "F #<!B,/$ #&#?$ <#K#’#/,>@$ >''" /#*>!$MI). Inventory — &#!$ !%. Allowances — #'' &#!$, <C/ &#N#). Current Assets — >#&#?$ !/&. Property and Equipment, Net — #%#$ '! !&$%&D. Depreciation — !*#&$"%,*#/ K!F!%,). Current Liabilities — >#&#?$ <#K#’$F'A#!$ !/@$. Common Stock — <?!A$ !/@$. Other Stockholders’ Equity — E#Q$, #"'C!$ $" >#"!C, <?!AB !/@$A ! K$C$, ! &!/#C !/,*,FD#!A >K,&#/. Total Liabilities and Equity — %D#E# >!%$ — %,*! <#K#’$&!F, (>$"%,*#/ K!F!%,). Total Revenues — #",/@$). Cost of Sales — %#K$!&$%&D '!F$<#!# >#",/@$. Other Expenses — $Q$ ('#K?$, !/F!"$) &!&. Loss Provision — '<' ! &!&. Interest Expense — &!& ! >F!&, >#@'&$. Income Pre Tax — >K,&#/ >''" %>F!&#I >#"!&/$ (#<!B,/#A >K,&#/). Income Tax — >K,&/#A >#"!&#/. Income Continuing — /#*>'%#!A >K,&#/ (, !<$ F!?'* >#"!&/!*). Discontinued, Extraordinary, Changes — #<, %/!?#/ %&!&&B <$&$ (!>/F!", '<?# *!FA ?, !>!/, 'F/A &#E). Net Income — ?%&A >K,&#/ ('#<>#"$F'A), /#*, !B#!$ #< &! %/!?/. EPS Primary — ?!%&/! ?%&#E# >K,&/,, /! >>!"!M ! 1 !/@$I. EPS Diluted — %/#'E#!! ?!%&/! ?%&#E# >K,&/,, /! >>!"!M ! 1 !/@$I (&,& ,!B#,I&D% !/&#, /$ >#"&D "# <#%&! /$FD/#%&$ !/@$A ! /,).

159

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163

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164

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165

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$ G#"#$ $"'/% #<$<I&D $'* $<#*!$&#%&$ !/@$A, /$ B#"&D "# >#&'F $"'/%,: i $"'/% «E#F,KB $Q#/» (blue chips); i #&'F$, /$ /FI?!I&D !/@$ !AK$FDQB $ !A>#>,F$QB /#*>!$A. !/$ /#*>!$ M %&!K$FD*, $!%## %&$A/* $ *!I&D "#%&!&D# *#CF#%&'A "F /#! $!%#B <#K#’F!& "$"'"$ / , %>&FB, &!/ $ '%>&FB '/##*$?B ,*#!B. !/&/! >#/!<,M, N# #K%E &#E$ !/@$* @B /#*>!$A %&!#&D F'#, ?!%&/, #K$E, #"##E# /,. # $"'/%$ «E#F,KB $Q#/» *#C! $"'%&: $",%&$!FDA $"'/% #,-C#%! DJIA (Dow Johns Industrial Average), /A #K’M",M !AK$FDQ$ /#*>!$ ^ ; #<*$ >#&'F @D#E# $"'/%, — 30 "$ !/@$A; $"'/% F#"#%D/# #"## K$C$ FT-SE-100 (Financial Times Stock Exchange) < >#&'F'* #<*$#* , 100 "$ !/@$A; !@,#&'F'*, N# #K’M",M 40 "$ !/@$A; $*'@D/A #"#A $"'/% DAX (Deutscher Aktienindex) < >#&'F'*, /A %/F!"!M&D% < 30 "$ !/@$A. 6 *!I&D >#&'F$, /$ #B#>FII&D <!?A >#@'& ($" 75 % "# 95 %) !/@$A !AK$FDQB /#*>!$A, /* &#E,I&D ! /,. 166

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167

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%$ " #>@$#$ B!!/&'<,I&D% % (expiration day) — #%&!D#I "!&#I <"$A%' #>'!@$ (/,>$F$ ? >#"!C, K!<#B ). #>@$# "!M >!# ! <"$A%' #>'!@$ FQ' #"#E# K$C##E# " (%!*' &#E#, /A /!@$#$). ! $"*$, $" M#>'A%D/#E#, #>@$# "#<#FM A#E# F!%/#$ %/#%&!&% * K,"D-/#E# K$C##E# " — >#?!I? $" !%&,>#E# " >$%F "!& >#"!C, $ #E!Q'. &,!@$, /#F @$!-%&!A/ "#$IM /#$A @$$ K!<##E# , !<!M&D% at-the-money (K$F E#Q'A). /N# /#! @$! K$FDQ! @$#, (*'Q! "F Put-#>@$#,), &# #>@$# E$"# /#!&, $ @ %&,!@$ !<!M&D% in-the-money (> E#Q!B). /N# /#! @$! *'Q! @$#, (K$FDQ! "F Put-#>@$#,), &# #>@$# /#,!& 'E$"#, $ @ %&,!@$ !<!M&D% out-of-the-money (K'< E#Q'A). #<EF'*# >/F!" /## %&,!@$, /#*, *#C! >#K!?& !'"'$ >#&&. 14.1. 25 &! 1993 #/, ! DI-#/%D/$A K$C$ NYSE /#! @$! !/@$ GM %/F!F! $ 63 ¼, ! >'*$ 4-*$%?#E# Put-#>@$#, ! <?!A$ !/@$ GM < @$#I-%&!A/ $ 60 @'A ?!% %/F!F! $ 13/16, >'*$ 4-*$%?#E# Call-#>@$#, ! !/@$ GM < &$MI %!*#I @$#I-%&!A/ %&!#F! $ 6. . ! !*'/!%D/B K$C!B "# @D#E# ?!%, @$ #%&* "#K!*: 63 1/4, 1 3/16, 9 ½. 14.3. ' $

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175

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%. 14.1. G,/@$#,! !/&#E# Put-#>@$#, !"# 14.2. 25 &! 1993 #/, >#/,>'@D >"K! 100 !/@$A GM #"!& B >#&E#* !AKFC?B 4 *$%@$. F &#E# N#K ,/,& </, 'F/B &!& > >!"$$ @$ !/@$, >#/,>'@D '*$ #"#?!%# >"K! 100 4*$%?B Put-#>@$#$ ! @$ !/@$ < @$#I-%&!A/ $ 60. #*#"'FI!& *#CF$ %&,!@$ ! /,. /N# #"#?!%# < #>@$#!* >#/,>'@D #F#"$M $">#$"#I /$FD/$%&I K!<#B !/@$A, &# &!/$ #>@$# !<!I&D% (covered), $!/Q' — . &C', , @D#*, !<$ Put-#>@$# !/&A. #<EF'*# "! >!"/: /N# "# *#*'&,, /#F >#/,>'@D *$E K %/#%&!&% #>@$##*, /#! @$! !/@$ a) #%&' "# $ 70; b) >!"' "# $ 50.

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P1 = ($ 70 – $ 63¼ – $ 13/16)u100 = $ 593,75.

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>!"/, a >#/,>'@D B *#C' %/#%&!&% #>@$##* "F &#E#, N#K /#!& %>'/,F&, #>'!@$I: /,>& !/@$ #"!& B ! /, K,&#/ @D#*, !<$ %&!#&*': P1 = ($ 70 – $ 60 – $ 6)u100 = $ 400.

179

>!"/, b >#/,>'@D B ' #K&D $?#E#, !F' $ ,C' >#$% &!& #<*$$ >'*$ #>@$#,: P2 = $ 6u100 = $ 600. R!F'C$%&D >K,&/, #>'!@$ $" /## @$ !/@$ >#$FI%&#!! F$$A#I "$!E!*#I ! %. 14.3. / "# < "$!E!*, #>@$# "#<#F «! $#*, *$%@$» %&#& >K,&#/ #KF!%&$ in-the-money '!@$ $" #<EF,&# !$Q' >/F!"$ 14.2: @ #>'!@$ >#&'K,M ! >#"#/ *'QB /#Q&$, $C #>'!@$ < >/F!", 14.2. #*, A ''/&$%&D @$M #>'!@$ (&!KF. 14.2) '<$# N!. 9 $! 14.2 $_$ "# ~ > ' ! ""? 'U#'"# /#! @$!

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0 10 20 30 40 50 60 70 80 90 100 110 120

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. .

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+. ". !/&?'%/#' ,/##"%&# ># !%##/##*?'%/* !%?'&!*. — .: '&!#*, 1995. — 128 c. 10. : . {., |# ## |. |., +

/. 0. G$!%#' >#E#<,!: *'&#" &! *#"'F$. — .:

, 1997. — 183 %. 11. . . !F! @/F#>'" &'A"'!. — .: , 2001, 296 %. 12. : +. =., = . +. %# #K#& < >!/'&#* MS Excel 97: !?. >#%$K. — .: "-# , 2002. — 84 c. 13. : +. =., = . +. %# #K#& < >!/'&#* MS Excel %''"#N$ Windows’95: !?. >#%$K. — D$: ##>#%$&!, 1999. — 48 c. 14. : +. =., = . +. '&#"?$ /!<$/ &! #%$&!, 2000. — 24 c. 15. + /. 0., : +. =., = . +. "$",!FD$ !/&?B '@. 7.050104, 7.050106, 7.060203, 7.060101 "'#, #%$&!, 1998. — 24 c. 16. + /. 0., : +. =., = . +. "$",!FD$ !/&?B '@. 7.050104, 7.050106, 7.060203, 7.060101 "'#, #&'F $'%&@$A $ ,>!F$ *. — .: ##>#%$&!, 1998. — 19 c. 17. |. .,

. ., 9 ). |. #*>DI&''">&A, /#>#!@A, *. — .: , 1994. — 280 %. 18. : +. =. #E!*' '?' $!%##E# *''"C*'&,: ,% F'/@$A. — F'/&#! K$KF$#&'/! , 2002 (http://dev.la%.lviv. ua/lib/). 19. : +. =. #E!*' '?' $!%##E# *''"C*'&,: R!"! "F /#! /#&#FD# #K#& "F %&,". '@. 6.050102 «/##*$?! /$K''&/!». — .: "-# , 2003. — 26 %. 20. 6 |. )., + ). ., = ' 9. =. G$!%#A %F#/. — 2-E' "., >. &! "#>. — .: '& J#>, 1997. — 576 %.

183

%!& 0 1 _#"" ' # _!"U#( $ MS EXCEL

G,/@$ fv pv rate nper pmt ipmt ppmt npv irr mirr db ddb sln syd vdb

'*#$/! <!?' H! !AK,& !&$%&D /!>$&!F, '>'$Q !&$%&D /!>$&!F, #*! >#@'&! K!/$%D/#E# /F!", '*$ K!/$%D/#E# /F!", '$#"?A '%#/ /F!", (/'"&,) #@'& F!?,I&D% '$#"$ [!%&! /'"&,, /! >#'&!M&D% '$#"$ H! ! [%&! >'"'! !&$%&D /!>$&!F, ,&$Q #*! '&!K'FD#%&$ $'%&@$ #"$/#!! ,&$Q #*! '&!K'FD#%&$ H! ! *#&#"$A#E# K!F!%, *#&
#%' #%"# ~ _#"" ' _!"U#V "&X#V ~#V ' #V ~#V X'X#>' " $ #? MS EXCEL

Financial db ddb fv ipmt irr mirr nper npv pmt ppmt pv rate sln syd vdb 184

_ "#K ""#K K< >F>#@ "#B *%" />' >< >>F!& #%>F!& >< #*! !* !*E" >"#K . .

0 2 _#"" ' # _!"U#( "%,!%' ANALYSIS TOOLPACK "% $'1 MS EXCEL G,/@$

'*#$/!

<!?'

,*! !E#*!"C'B >#@'&$ /,>##E#

ACCRINT

Accrued Interest

ACCRINTM

Accrued Maturity

AMORDEGRC

Amortization Calculation

Degree

AMORLINC

Amortization Calculation

Linear

COUPDAYBS

Coupon Days Settlement

Before

COUPDAYS

Coupon Days

$FD/$%&D "$ , /,>##*, >'$#"$, /A #B#>FIM "!&, /,>$F$

COUPDAYSNC

Coupon Days to Next Coupon day

$FD/$%&D "$ $" "!& /,>$F$ #KF$E!@$ "# >#?!&/, !%&,>#E# /,>##E# >'$#",

COUPNCD

Coupon period Coupon Day

!%&,>! >$%F /,>$F$ "!&! >F!& /,>#$

COUPNUM

Coupon Number

R!E!FD! /$FD/$%&D /,>#$, /$ K,",&D >F!?'$ $F$ "# A#E# >#E!Q'

COUPPCD

Coupon period Previous Coupon Day

#>''" >''" /,>$F'I "!&! >F!& /,>#$

CUMIPMT

Cumulative Paiment

>F!?'$ /'"&$ >#@'&

CUMPRINC

Cumulative Principal

>F!?'! %,*! /'"&,

DISC

Discount rate

#*! "%/#&,

DOLLARDE

Dollar Decimal

''&#IM @$, @$#E# >!>'! < "#K## 'F? "# "'%&/##E# ?%F!

DOLLARFR

Dollar Fraction

''&#IM @$, @$#E# >!>'! < "'%&/##E# ?%F! "# "#K## 'F?

Interest

to

Next

Interest

,*! !E#*!"C'B >#@'&$ /,*,F&#E# ,*! !*#&'$#", '$#", #?!&/, /,>##E# >'$#", "# "!& /,>$F$

185

( ' . 2 G,/@$

'*#$/!

<!?'

DURATION

Duration

@$/! !/!F' !&#%&$ "#B#"$ $" /,>##E#

EFFECT

Effect

'/&! $?! #*! >#@'&! /,>##E#

FVSCHEDULE

Future Shedule

INTRATE

Interest Rate

#*! >#@'&!

MDURATION

Modified Duration

#"$/#!! #@$/! !/!F' !&#%&$ "#B#"$ $" /,>##E#

NOMINAL

Nominal rate

#*$!FD! #*! "#B$"#%&$ /,>##E#

ODDFPRICE

Odd First period Price

@$/! /## !&#%&$ < #%#KF** >'Q* /,>#* >'$#"#*

ODDFYIELD

Odd First period Yield

#B$"$%&D #KF$E!@$ < #%#KF** >'Q* /,>#* >'$#"#*

ODDLPRICE

Odd Last period Price

@$/! /## !&#%&$ < #%#KF** #%&!$* /,>#* >'$#"#*

ODDLYIELD

Odd Last period Yield

#B$"$%&D #KF$E!@$ < #%#KF** #%&!$* /,>#* >'$#"#*

PRICE

Price of bond

@$/! /## !&#%&$ /,>##E#

PRICEDISC

Price of security

Discounting

@$/! /## !&#%&$ "%/#&#E#

PRICEMAT

Price of security

Maturity

@$/! /## !&#%&$ /,*,F&#E#

RECEIVED

Received to maturity

!&$%&D /,*,F&#E# > A#E# >#E!Q'$

TBILLEQ

Treasure Bill Equivalent

#B$"$%&D #KF$E!@$, '/$!F'&# %/!K?#*, '/%'FI

TBILLPRICE

Treasure Bill Price

@$/! /## !&#%&$ %/!K?#E# '/%'F

186

Value

with

!AK,& 'F?! /!>$&!F, > <*$$A #*$ >#@'&!

. .

6 . 2 G,/@$

'*#$/!

<!?'

TBILLYIELD

Treasure Bill Yield

#B$"$%&D %/!K?#E# '/%'F

XIRR

eXtended Internal Rate of Return

$&!F,

XNPV

eXtended Net Present Value

'$Q !&$%&D /!>$&!F,

YIELD

Yield

#*! >K,&/##%&$ /,>##E#

YIELDDISC

Yield of security

Discount

#*! >K,&/##%&$ "%/#&#E#

YIELDMAT

Yield to Maturity of security

#*! >K,&/##%&$ /,*,F&#E#

* ,>#A >'$#" !<!M&D% #%#KF*, /N# $ /##&QA !K# "#QA $" $QB.

187

$),%

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 1. i . . . . . . . . . . 6 1.1. %#$ >#&& $!%##E# *''"C*'&, . . . . . . . . 6 1.2. 'B$/! "%/#&,!. . . . . . . . . . . . . . . . . . . . . . . . . . 8 1.3. #<’#*#E#I 'F'/&#B &!KF@D. . . . . . . . . . . . . . . . . . . . . . . 9 1.4. >'@$!F$<#!$ >!/'& $!%##E# *''"C*'&, . . . 11

"#$%& 1. MS MONEY 2. ' ) MS Money . . . . . . . . . . . . . . . . . . 16 2.1. #@'>@$ >!/'&! >'%#!FD#E# $!%##E# *''"C*'&, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.2. !B,/ &! /!&'E#$ . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3. #?!&#/ #K#& < >!/'&#* . . . . . . . . . . . . . . . . . . . . . . 2.4. #K#?A %&$F >!/'&, . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5. ''"C' !B,/$. . . . . . . . . . . . . . . . . . . . . . . . . . . .

16 18 22 25 26

3. :[ MS Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 3.1. ,!F !B,/, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2. >'!@$ < &!%!/@$* . . . . . . . . . . . . . . . . . . . . . . . . 3.3. !F!% !B,/, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.4. '$#"?$ &!%!/@$. . . . . . . . . . . . . . . . . . . . . . . . . . 3.5. ''!@$ <?!AB &!%!/@$A #*#E#I >'$#"?# . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

31 33 35 38 41

4. _ * MS Money. . . . . . . . . . . . . . . . . . . 45 4.1. #&& $!%##E# /!FD/,F&#!. . . . . . . . . . . . . . . 45 4.2. !FD/,F&# /'"&$ . . . . . . . . . . . . . . . . . . . . . . . . . . 45 188

. .

4.3. !FD/,F&# #@'&$. . . . . . . . . . . . . . . . . . . . . . . . . 4.7. #%&,/&# /'"&#E# !B,/, . . . . . . . . . . . . . . . .

49 50 51 53 54

5. > MS Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 5.1. EF" <$&# >$"%%&'* . . . . . . . . . . . . . . . . . . . . . . . 5.2. R!%#K >!!*'&# "#B#" $ &!& . . . . . . . . . . . . . . . . . . . . . 5.3.3. R$& ># E#Q#$ >#&#/ . . . . . . . . . . . . . . . . . . . . . . 5.4. ,&$Q$ <$&. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.4.1. 'M%& &!%!/@$A !B,/, . . . . . . . . . . . . . . . . . . . . 5.4.2. I"C'& $ A#E# /#! . . . . . . . . . . . . . . . . . . . . . 5.4.3. R$& ># >!!*'& !B,/$ . . . . . . . . . . . . . . . . . . . 5.4.4. Q$ <$& . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

60 62 62 65 65 66 66 67 69 70 70 71 71 72

6. ' :[ ) :* MS Money . . . . . . . . . . . . . . . . . . 76 6.1. '%&@$A$ !B,/ . . . . . . . . . . . . . . . . . . . . . . . . . . 6.2. '%&@$. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.3. >'!@$ < $'%&@$* . . . . . . . . . . . . . . . . . . . . . . . . 6.4. /#$ @$ @$B >!>'$ . . . . . . . . . . . . . . . . . . . . 6.5. '%&@$A$ <$& . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

76 76 80 81 83

"#$%& 2.

7. )+ : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 7.1. %#$ &'*$ &! >#&& . . . . . . . . . . . . . . . . . . . . . 7.2. " >#@'&$ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.3. R!F'C$%&D >#@'&$ $" &!F#%&$ >'$#", . . . . . . . 7.4. #<!B,#/ /'"&$ < >'$#"?* >F!&!* . . . . 7.5. %/#&,! '/%'F$ . . . . . . . . . . . . . . . . . . . . . . . .

88 89 93 95 97

8.

* )

* ; . . . . . . . . . . . . . . . 101 8.1. R!"!?$ /'"&,! &!
189

8.2. G,/@$ "F #<!B,/, /F!"$ K'< >'$#"?B '%/$ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 8.3. G,/@$ "F #<!B,/, /F!"$ < >'$#"?* '%/!*. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 8.4. G,/@$ "F #<!B,/, /'"&$ < >'$#"?* >F!&!*. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 9. ) [ ) . . . . . . . . . . . . . 110 9.1. " $!%## <$&#%&$ . . . . . . . . . . . . . . . . . . . . . 9.2. @> #*,! $!%## <$&#%&$ . . . . . . 9.3. 'B$/! #*,! >F!&$C#E# K!F!%, . . . . . . . . . 9.4. 'B$/! #*,! <$&, ># >K,&/ &!
110 111 113 116 118

10. U

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126 10.1. %#$ >#&& . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126 10.2. F!%$/!@$ . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 10.3. K,&/#$%&D $ </ . . . . . . . . . . . . . . . . . . . . 127 10.4. < $/%#!* "#B#"#* . . . . . . . . . . . . . . . . . . . . 129 10.5. #<!B,#/ B!!/&'%&/ < $/%#!* "#B#"#* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130

"#$%& 3.

INTERNET 11. + / < ) :<. . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 11.1. #&& /##E# @/F, . . . . . . . . . . . . . . . . . . . . 11.2. " /#B @/F$ . . . . . . . . . . . . . . . . . . . . . . . 11.3. ?!%/ /, . . . . . . . . . . . . . . . . . . . . . . . . . 11.4. &!&'E$ K$C## E . . . . . . . . . . . . . . . . . . . . . . .

135 137 137 139

12. ) :< ) 0 Internet . . . . . . . . . . . . . . . . . 143 12.1. #&& K#/'%D/#E# ,'!@$A $< . . . . . . . . . . . 146 12.4. >'!@$ < &! B ''/&$%&D. . . . . . . . . . . . . 149 12.5. R!%#K K#/'%D/B ,
. .

13. _ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 13.1. #&& #"##E# $"'/%, . . . . . . . . . . . . . . . . . . . 13.2. " $ ><!?' #"#B $"'/%$. . . . . . . . . . 13.3. 'B$/! #<!B,/, #"#B $"'/%$. . . . . . . . . . 13.4. 'B$/! >''!B,/, #"#B $"'/%$. . . . . . . . .

165 166 167 169

14. + :

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174 14.1. #&& ># #>@$# &! ’I?'%. . . . . . . . . . . . . . 14.2. " &! >!!*'& #>@$#$. . . . . . . . . . . . . . . . . . . 14.3. >@$# / $%&,*'& B'"C,! . . . . . . . . . . . . . 14.4. >@$# / $%&,*'& %>'/,F@$. . . . . . . . . . . . . . .

174 175 175 179

{9"|9| . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183 0/0|9: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184 0 1. G$!%#$ ,/@$ >!/'&! MS Excel . . . . . . . . . . . . 184 0 2. G$!%#$ ,/@$ !"K,"# Analysis Toolpack !" >!/'&#* MS Excel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185

191

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*.",/.!/. 12. "!@&# “'& !?!FD# F$&'!&,” ,F. F'/&/$, 23 *. , 04176 &'F./!/% 425-01-34, &'F. 451-65-95, 425-04-47, 425-20-63 8-800-501-68-00 (K'

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