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Thousands of customers from more than 80 countries around the world have used Elan Guides to prepare for the CFA Level I exam.


We believe that we offer the MOST EFFECTIVE study materials for CFA exam prep. Register for the free trial on our website to obtain FREE access to the following study materials.  Lecture videos, study guide readingsand practice questions for Study Session 3 (Quantitative Methods)  Lecture videos, study guide readings and practice questions for Study Session 16 (Fixed Income) Our products receive excellent reviews from customers. Sign up for our free trial now to experience the difference that we can make to your CFA level I Prep.

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“I used Elan's study materials for the June 2011 Level I test and was highly impressed by the quality of the practicetests and explanations, lecture videos, and study notes... as well as your quick replies when I had questions on my order. I would very much like to continue using Elan study materials as I work through the CFA curriculum and hope that you have found enough success to expand your offerings.” – Paul, USA “Without really commenting on the quality of the others stuff, I must say that I found you guys tobe the best.” - Sheila, Saudi Arabia “You guys really do make a superior product and provide a better service in pretty much every way. Like I have said before, your materials really are top quality. Thanks again for all your hard work. I have been consistently doing better on all my practice exams since I switched over to your materials.”– Bijan, USA


The Future Value of a Single Cash Flow

FVN = PV (1+ r)N
The Present Value of a Single Cash Flow PV = FV (1+ r)N PVAnnuity Due = PVOrdinary Annuity  (1 + r) FVAnnuity Due = FVOrdinary Annuity  (1 + r) Present Value of a Perpetuity PMT PV(perpetuity) = I/Y Continuous Compounding and Future Values

FVN = PVe rs * N
Effective Annual Rates EAR = (1 + Periodic interest rate)N- 1 Net PresentValue NPV = CFt t (1 + r) t=0

where CFt = the expected net cash flow at time t N = the investment’s projected life r = the discount rate or appropriate cost of capital Bank Discount Yield D 360 rBD = F  t where: rBD = the annualized yield on a bank discount basis. D = the dollar discount (face value – purchase price) F = the face value of the bill t = number of days remaining untilmaturity Holding Period Yield HPY = P1 - P0 + D1 = P1 + D1 - 1 P0 P0 where: P0 = initial price of the investment. P1 = price received from the instrument at maturity/sale. D1 = interest or dividend received from the investment.




Effective Annual Yield EAY= (1 + HPY)365/t - 1 where: HPY = holding period yield t = numbers of days remaining till...
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