GLOSSARY

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NPV = \sum_{t=0}^N^n \frac{R_t}{(1+ir)^t} = R_0 + \sum_{t=1}^N \frac{R_t}{(1+ir)^t}

where

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bodyt
 – time moment since the first investment,

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bodyr = \rm \frac{Cash_{out} - Cash_{in}}{Cash_{in}}
iImage Removed – the discount rate, i.e. the return that could be earned per unit of time on an investment with similar risk

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bodyNn
 – total number of time steps

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