{"id":1533,"date":"2019-03-05T10:00:39","date_gmt":"2019-03-05T01:00:39","guid":{"rendered":"https:\/\/www.ecostyle-fund.com\/manabu\/?p=1533"},"modified":"2021-05-31T19:30:35","modified_gmt":"2021-05-31T10:30:35","slug":"story34","status":"publish","type":"post","link":"https:\/\/www.ecostyle-fund.com\/manabu\/story34\/","title":{"rendered":"IRR\u3063\u3066\u4f55\uff1f\u5229\u56de\u308a\u3068\u306e\u9055\u3044\u306f\uff1f\u6bd4\u8f03\uff06\u308f\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac"},"content":{"rendered":"<p>IRR\u3068\u306f\u3001\u6295\u8cc7\u306b\u304a\u3051\u308b\u5229\u76ca\u7387\u3092\u3001\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u8003\u3048\u306b\u5165\u308c\u3066\u8868\u3059\u3082\u306e\u3067\u3059\u3002\u5229\u76ca\u304c\u65e9\u671f\u306b\u5f97\u3089\u308c\u308b\u3082\u306e\u307b\u3069\u3001IRR\u306f\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002IRR\u3092\u8a08\u7b97\u3059\u308b\u969b\u306b\u306f\u3001\u5c06\u6765\u306b\u5f97\u3089\u308c\u308b\u304a\u91d1\u306e\u4fa1\u5024\u3092\u73fe\u5728\u306e\u4fa1\u5024\u306b\u7f6e\u304d\u306a\u304a\u3059\u305f\u3081\u3001\u6295\u8cc7\u3067\u5f97\u3089\u308c\u308b\u5229\u76ca\u306b\u3064\u3044\u3066\u3088\u308a\u6b63\u3057\u304f\u8a55\u4fa1\u3067\u304d\u3001\u6295\u8cc7\u306e\u5229\u76ca\u7387\u3092\u793a\u3059\u91cd\u8981\u306a\u6307\u6a19\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001IRR\u306e\u5b9a\u7fa9\u3068\u8a08\u7b97\u5f0f\u3001\u5229\u56de\u308a\u3068\u306e\u9055\u3044\u306b\u3064\u3044\u3066\u307f\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n<h2>IRR\u306e\u5b9a\u7fa9\u3068\u306f\uff1f<\/h2>\n<p>IRR\u3068\u306f\u4f55\u306a\u306e\u3067\u3057\u3087\u3046\u304b\uff1f \u6700\u521d\u306b\u3001IRR\u306e\u5b9a\u7fa9\u3092\u307f\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>IRR\u3068\u306f\u5c06\u6765\u5f97\u3089\u308c\u308b\u304a\u91d1\u306e\u73fe\u5728\u306e\u4fa1\u5024\u3068\u6295\u8cc7\u984d\u304c\u7b49\u3057\u304f\u306a\u308b\u5229\u76ca\u7387\u306e\u3053\u3068\u3002<br \/>\nIRR\u306f\u300cInternal Rate of Return\u300d\u306e\u7565\u79f0\u3067\u3001\u65e5\u672c\u8a9e\u3067\u306f\u300c\u5185\u90e8\u5229\u76ca\u7387\u300d\u3068\u547c\u3070\u308c\u307e\u3059\u3002\u8907\u6570\u306e\u6295\u8cc7\u6848\u4ef6\u3092\u6bd4\u8f03\u30fb\u691c\u8a0e\u3059\u308b\u305f\u3081\u306b\u7528\u3044\u3089\u308c\u308b\u6307\u6a19\u3067\u3001IRR\u304c\u9ad8\u3044\u307b\u3069\u300c\u5229\u76ca\u7387\u304c\u9ad8\u304f\u512a\u79c0\u306a\u6295\u8cc7\u6848\u4ef6\u300d\u3068\u8003\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>IRR\u306e\u4e00\u822c\u7684\u306a\u5b9a\u7fa9\u306f\u3001<\/p>\n<p><span class=\"thin_line\">\u300c\u6295\u8cc7\u306b\u5bfe\u3059\u308b\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u73fe\u5728\u4fa1\u5024\u3068\u3001\u6295\u8cc7\u984d\u306e\u73fe\u5728\u4fa1\u5024\u3068\u304c\u3061\u3087\u3046\u3069\u7b49\u3057\u304f\u306a\u308b\u5185\u90e8\u5229\u76ca\u7387\u300d<\/span><\/p>\n<p>\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u305f\u3060\u3057\u3001\u3053\u306e\u5b9a\u7fa9\u3060\u3051\u3067\u306f\u4f55\u306e\u3053\u3068\u3060\u304b\u308f\u304b\u3089\u306a\u3044\u4eba\u3082\u591a\u3044\u3067\u3057\u3087\u3046\u3002\u305d\u3053\u3067\u3001IRR\u3068\u306f\u3069\u306e\u3088\u3046\u306a\u3082\u306e\u306a\u306e\u304b\u3092\u3001\u4ee5\u4e0b\u3067\u6bb5\u968e\u3092\u8ffd\u3044\u306a\u304c\u3089\u565b\u307f\u7815\u3044\u3066\u307f\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_img1.jpg\" alt=\"\" class=\"marginU3p\"\/><\/p>\n<h2>1.\u3000\u6295\u8cc7\u306b\u304a\u3051\u308b\u300c\u5229\u76ca\u7387\u300d\u306e\u8a08\u7b97\u5f0f<\/h2>\n<p>IRR\u3092\u7406\u89e3\u3059\u308b\u305f\u3081\u306e\u7b2c1\u6bb5\u968e\u3068\u3057\u3066\u300c\u5229\u76ca\u7387\u300d\u3068\u306f\u3069\u306e\u3088\u3046\u306a\u3082\u306e\u304b\u3092\u307f\u3066\u307f\u307e\u3057\u3087\u3046\u3002\u5229\u76ca\u7387\u306f\u3001\u3082\u3063\u3068\u3082\u5358\u7d14\u306a\u3082\u306e\u3068\u3057\u3066\u300c\u6295\u8cc7\u306e\u5229\u76ca\u3092\u6295\u8cc7\u984d\u3067\u5272\u3063\u305f\u3082\u306e\u300d\u3001\u8a08\u7b97\u5f0f\u3067\u66f8\u3051\u3070\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula01.jpg\" alt=\"\u5229\u76ca\u7387=\u5229\u76ca\/\u6295\u8cc7\u984d\"\/><\/p>\n<p>\u3068\u306a\u308a\u307e\u3059\u3002<br \/>\n\u4f8b\u3048\u3070\u3001100\u4e07\u5186\u3092\u6295\u8cc7\u3057\u3066\u30015\u5e74\u5f8c\u306b5\u4e07\u5186\u306e\u5229\u76ca\u3092\u51fa\u3057\u305f\u3068\u3057\u307e\u3059\u3002\u305d\u306e\u5834\u5408\u306b\u5229\u76ca\u7387\u306f\u3001 <\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula02.jpg\" alt=\"\u5229\u76ca\u7387=5\u4e07\u5186\/100\u4e07\u5186\"\/><\/p>\n<p>\u3067\u8a08\u7b97\u3055\u308c\u3001\u300c5\uff05\u300d\u3067\u3042\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u901a\u5e38\u3001\u5229\u76ca\u7387\u306f\u300c1\u5e74\u3054\u3068\u300d\u306b\u8a08\u7b97\u3057\u307e\u3059\u3002\u305d\u3053\u3067\u3001\u4e0a\u306e\u6295\u8cc7\u6848\u4ef6\u306e\u5e74\u3054\u3068\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08\u53ce\u652f\uff09\u304c\u6b21\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3042\u3063\u305f\u3068\u3057\u307e\u3059\u3002<\/p>\n<div class=\"tblCustm\">\n<table width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<th>\u6295\u8cc7\u6642<\/th>\n<th>1\u5e74\u5f8c<\/th>\n<th>2\u5e74\u5f8c<\/th>\n<th>3\u5e74\u5f8c<\/th>\n<th>4\u5e74\u5f8c<\/th>\n<th>5\u5e74\u5f8c<\/th>\n<\/tr>\n<tr>\n<td>-100<\/td>\n<td>1<\/td>\n<td>1<\/td>\n<td>1<\/td>\n<td>1<\/td>\n<td>101<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div class=\"alignR\">\uff08\u5358\u4f4d\uff1a\u4e07\u5186\uff09<\/div>\n<\/div>\n<p>\u3053\u306e\u8868\u306f\u3001\u6295\u8cc7\u6642\u306b100\u4e07\u5186\u3092\u6295\u8cc7\u3057\u305f\u3053\u3068\u3092\u7b26\u53f7\u300c\u30de\u30a4\u30ca\u30b9\uff08\uff0d\uff09\u300d\u3067\u8868\u3057\u3001\u305d\u306e\u5f8c\u306b\u5f97\u3089\u308c\u305f\u304a\u91d1\u306f\u300c\u30d7\u30e9\u30b9\uff08\uff0b\uff09\u300d\u3067\u8868\u3057\u3066\u3044\u307e\u3059\u30021\u5e74\u5f8c\uff5e4\u5e74\u5f8c\u307e\u3067\u306f\u6bce\u5e741\u4e07\u5186\u306e\u5229\u76ca\u304c\u3042\u308a\u30015\u5e74\u5f8c\u306b1\u4e07\u5186\u306e\u5229\u76ca\u3068\u3068\u3082\u306b\u5143\u672c\u3092\u56de\u53ce\u3057\u305f\u3053\u3068\u3092\u793a\u3057\u3066\u3057\u307e\u3059\u3002<\/p>\n<p>\u6bce\u5e741\u4e07\u5186\u306e\u5229\u76ca\u304c\u3042\u3063\u305f\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u306e\u3067\u3001\u3053\u306e\u5834\u5408\u306e\u6bce\u5e74\u306e\u5229\u76ca\u7387\u306f\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula03.jpg\" alt=\"\u5e74\u9593\u5229\u76ca\u7387=1\u4e07\u5186\/100\u4e07\u5186\"\/><\/p>\n<p>\u3067\u8a08\u7b97\u3055\u308c\u3001\u300c1\uff05\u300d\u3067\u3042\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u5834\u5408\u306e\u5229\u76ca\u7387\u306f\u3001\u300c\u5229\u56de\u308a\u300d\u3068\u540c\u3058\u306b\u306a\u308a\u307e\u3059\u3002\u4e0a\u306e\u6295\u8cc7\u6848\u4ef6\u306b\u304a\u3044\u3066\u30015\u5e74\u9593\u3067\u306e\u5229\u56de\u308a\u306f5\uff05\u3001\u5e74\u9593\u5229\u56de\u308a\u306f1\uff05\u3067\u3042\u308b\u3068\u3044\u3048\u307e\u3059\u3002<\/p>\n<h2>2.\u3000\u300c\u73fe\u5728\u4fa1\u5024\u300d\u306e\u8a08\u7b97\u5f0f<\/h2>\n<p>IRR\u306e\u5b9a\u7fa9\u306e\u306a\u304b\u306b\u5358\u8a9e\u300c\u73fe\u5728\u4fa1\u5024\u300d\u304c\u3067\u3066\u304d\u307e\u3059\u3002\u3053\u306e\u73fe\u5728\u4fa1\u5024\u306e\u610f\u5473\u306b\u3064\u3044\u3066\u6b21\u3092\u307f\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<h3>\u73fe\u5728\u4fa1\u5024\u3068\u306f\u5c06\u6765\u306b\u5f97\u3089\u308c\u308b\u304a\u91d1\u3092\u73fe\u5728\u306e\u4fa1\u5024\u306b\u63db\u7b97\u3057\u305f\u3082\u306e<\/h3>\n<p>\u4e00\u822c\u306b\u304a\u91d1\u306f\u3001\u9280\u884c\u306b\u9810\u91d1\u3057\u305f\u308a\u6295\u8cc7\u3057\u305f\u308a\u3059\u308c\u3070\u6642\u9593\u3068\u3068\u3082\u306b\u5897\u3048\u3066\u3044\u304d\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u73fe\u5728100\u4e07\u5186\u3042\u3063\u305f\u3068\u3059\u308c\u3070\u3001\u305d\u308c\u3092\u5e74\u9593\u5229\u76ca\u73871\uff05\u306e\u6295\u8cc7\u306b\u307e\u308f\u3059\u3053\u3068\u306b\u3088\u308a\u30011\u5e74\u5f8c\u306b101\u4e07\u5186\u306b\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u305d\u308c\u306b\u5bfe\u3057\u3066\u30011\u5e74\u5f8c\u306b100\u4e07\u5186\u304c\u5f97\u3089\u308c\u308b\u3068\u3057\u307e\u3059\u3002\u73fe\u5728\u306e100\u4e07\u5186\u30681\u5e74\u5f8c\u306e100\u4e07\u5186\u3067\u306f\u3001\u304a\u91d1\u306e\u984d\u9762\u3068\u3057\u3066\u306f\u4e00\u7dd2\u3067\u3059\u3002\u3057\u304b\u3057\u300c\u6295\u8cc7\u306b\u3088\u3063\u3066\u304a\u91d1\u3092\u5897\u3084\u3059\u3053\u3068\u304c\u3067\u304d\u308b\u300d\u3053\u3068\u3092\u8003\u3048\u306b\u5165\u308c\u308c\u3070\u3001\u73fe\u5728\u306e100\u4e07\u5186\u306f\u3001\u5e74\u73871\uff05\u306e\u6295\u8cc7\u3092\u884c\u3046\u3053\u3068\u306b\u3088\u308a1\u5e74\u5f8c\u306b101\u4e07\u5186\u306b\u3067\u304d\u308b\u308f\u3051\u3067\u3059\u304b\u3089\u30011\u5e74\u5f8c\u306e100\u4e07\u5186\u3088\u308a\u4fa1\u5024\u304c\u3042\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5e74\u73871\uff05\u306e\u6295\u8cc7\u3092\u884c\u3046\u3068\u3057\u305f\u5834\u5408\u3001\u73fe\u5728\u3044\u304f\u3089\u306e\u304a\u91d1\u304c\u3042\u308c\u30701\u5e74\u5f8c\u306b100\u4e07\u5186\u306b\u306a\u308b\u304b\u3092\u6c42\u3081\u3066\u307f\u307e\u3057\u3087\u3046\u3002\u5e74\u73871\uff05\u3067\u3059\u304b\u3089\u3001\u304a\u91d1\u306f1\u5e74\u9593\u3067101\uff05\uff08= 100\uff05\uff0b1\uff05 = 1\uff0b0.01\uff09\u306e\u5272\u5408\u3067\u5897\u3048\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u30011\u5e74\u5f8c\u306b100\u4e07\u5186\u306b\u306a\u308b\u304a\u91d1\u306e\u91d1\u984d\u3092\u6c42\u3081\u308b\u305f\u3081\u306b\u306f\u3001100\u4e07\u5186\u3092\u3001\u304a\u91d1\u304c1\u5e74\u3067\u5897\u3048\u308b\u5272\u5408101\uff05\u3067\u5272\u308c\u3070\u3044\u3044\u3053\u3068\u306b\u306a\u308a\u3001\u8a08\u7b97\u5f0f\u3067\u3044\u3048\u3070\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula04.jpg\" alt=\"100\u4e07\u5186\/1+0.01\"\/><\/p>\n<p>\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u3092\u8a08\u7b97\u3059\u308b\u3068\u300c99\u4e0799\u5186\u300d\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5e74\u73871\uff05\u306e\u6295\u8cc7\u3092\u3059\u308b\u5834\u5408\u3001\u3053\u306e99\u4e0799\u5186\u304c\u30011\u5e74\u5f8c\u306b\u5f97\u3089\u308c\u308b100\u4e07\u5186\u306e\u73fe\u5728\u306b\u304a\u3051\u308b\u4fa1\u5024\u3001\u300c\u73fe\u5728\u4fa1\u5024\u300d\u3067\u3059\u3002<\/p>\n<p>\u305d\u308c\u3067\u306f\u30012\u5e74\u5f8c\u306b100\u4e07\u5186\u304c\u5f97\u3089\u308c\u308b\u5834\u5408\u306e\u73fe\u5728\u4fa1\u5024\u306f\u3044\u304f\u3089\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u304b\uff1f\u5e74\u73871\uff05\u3067\u3042\u3063\u305f\u3068\u3059\u308b\u3068\u3001\u304a\u91d1\u306f\u6700\u521d\u306e1\u5e74\u3067101\uff05\uff08= 1+0.01\uff09\u5897\u3048\u3001\u6b21\u306e1\u5e74\u3067\u3055\u3089\u306b\u305d\u306e101\uff05\u5897\u3048\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u306e\u3067\u30012\u5e74\u9593\u3067\u304a\u91d1\u304c\u5897\u3048\u308b\u5272\u5408\u306f\u3001<\/p>\n<p>\uff081\uff0b0.01\uff09\u00d7\uff081\uff0b0.01\uff09\uff1d\uff081\uff0b0.01\uff09<sup>2<\/sup><\/p>\n<p>\u3067\u8a08\u7b97\u3067\u304d\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u30012\u5e74\u5f8c\u306b100\u4e07\u5186\u306b\u306a\u308b\u305f\u3081\u306b\u306f\u3001100\u4e07\u5186\u3092\u4e0a\u306e\u5272\u5408\u3067\u5272\u308c\u3070\u3044\u3044\u306e\u3067\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula05.jpg\" alt=\"100\u4e07\u5186\/(1+0.01)^2\"\/><\/p>\n<p>\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u3092\u8a08\u7b97\u3059\u308b\u3068\u300c90\u4e07296\u5186\u300d\u3001\u3053\u308c\u304c2\u5e74\u5f8c\u306b\u5f97\u3089\u308c\u308b100\u4e07\u5186\u306e\u73fe\u5728\u4fa1\u5024\u3067\u3059\u3002\u304a\u91d1\u306e\u73fe\u5728\u4fa1\u5024\u306f\u3001\u305d\u306e\u304a\u91d1\u304c\u5f97\u3089\u308c\u308b\u6642\u671f\u304c\u5f8c\u306b\u306a\u308c\u3070\u306a\u308b\u307b\u3069\u3001\u5b9f\u969b\u306e\u91d1\u984d\u3088\u308a\u5c11\u306a\u304f\u306a\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h2>3.\u3000\u5b9f\u969b\u306bIRR\u3092\u8a08\u7b97\u3057\u3066\u307f\u3088\u3046<\/h2>\n<p>\u3053\u3053\u307e\u3067\u3067\u300c\u5229\u76ca\u7387\u300d\u3068\u300c\u73fe\u5728\u4fa1\u5024\u300d\u306b\u3064\u3044\u3066\u307f\u3066\u304d\u307e\u3057\u305f\u304c\u3001\u3053\u308c\u3067IRR\u3092\u8a08\u7b97\u3057\u3066\u6c42\u3081\u308b\u6e96\u5099\u304c\u6574\u3044\u307e\u3057\u305f\u3002IRR\u3068\u306f\u300c\u6295\u8cc7\u306b\u304a\u3044\u3066\u5f97\u3089\u308c\u308b\u304a\u91d1\u306e\u73fe\u5728\u4fa1\u5024\u304c\u3001\u6295\u8cc7\u984d\u3068\u540c\u3058\u306b\u306a\u308b\u305f\u3081\u306e\u5229\u76ca\u7387\u300d\u306e\u3053\u3068\u3067\u3057\u305f\u3002\u3044\u304f\u3064\u304b\u306e\u30b1\u30fc\u30b9\u306b\u3064\u3044\u3066\u3001\u5b9f\u969b\u306bIRR\u3092\u6c42\u3081\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<h3>\u30b1\u30fc\u30b91\u3000100\u4e07\u5186\u3092\u6295\u8cc7\u3057\u30661\u5e74\u5f8c\u306b3\u4e07\u5186\u304c\u5f97\u3089\u308c\u308b\u5834\u5408\u306eIRR<\/h3>\n<p>100\u4e07\u5186\u3092\u6295\u8cc7\u3057\u30661\u5e74\u5f8c\u306b3\u4e07\u5186\u306e\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u5834\u5408\u3001\u300c\u5229\u56de\u308a\u300d\u306f3\uff05\u3067\u3059\u3002IRR\u304c\u3069\u3046\u306a\u308b\u306e\u304b\u3092\u307f\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>1\u5e74\u5f8c\u306b\u624b\u306b\u3059\u308b\u304a\u91d1\u306f\u3001\u5143\u672c\u3068\u5229\u76ca\u3092\u5408\u308f\u305b\u3066103\u4e07\u5186\u3067\u3059\u3002\u3053\u306e103\u4e07\u5186\u306e\u73fe\u5728\u4fa1\u5024\u306f\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula06.jpg\" alt=\"103\u4e07\u5186\/(1+r)\"\/><\/p>\n<p>\u3067\u8868\u3055\u308c\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u3053\u3053\u3067\u300cr\u300d\u306f\u3001\u3053\u308c\u304b\u3089\u6c42\u3081\u3088\u3046\u3068\u3059\u308b\u5229\u76ca\u7387\u3001IRR\u3067\u3059\u3002<\/p>\n<p>\u3053\u306e\u300c1\u5e74\u5f8c\u306b\u5f97\u3089\u308c\u308b103\u4e07\u5186\u306e\u73fe\u5728\u4fa1\u5024\u304c\u6295\u8cc7\u984d\u306e100\u4e07\u5186\u300d\u3068\u540c\u3058\u306b\u306a\u308b\u3068\u3044\u3046\u308f\u3051\u3067\u3059\u306e\u3067\u3001\u6b21\u306e\u8a08\u7b97\u5f0f\u304c\u7acb\u3066\u3089\u308c\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula07.jpg\" alt=\"100\u4e07\u5186=103\u4e07\u5186\/1+r\"\/><\/p>\n<p>\u3053\u3053\u304b\u3089\u5f0f\u3092\u5c55\u958b\u3059\u308c\u3070\u3001<\/p>\n<p>\uff081\uff0br\uff09100\u4e07\u5186\uff1d103\u4e07\u5186<br \/>\n100\u4e07\u5186\uff0b100r\u4e07\u5186\uff1d103\u4e07\u5186<br \/>\n100r\u4e07\u5186\uff1d3\u4e07\u5186<br \/>\n<img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula08.jpg\" alt=\"r=3\/100=0.03=3%\"\/><\/p>\n<p>\u3068\u3001IRR\u306f\u300c3\uff05\u300d\u3067\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u5834\u5408\u3001IRR\u3068\u5229\u56de\u308a\u306f\u4e00\u81f4\u3057\u307e\u3059\u3002<\/p>\n<h3>\u30b1\u30fc\u30b92\u3000\u6bce\u5e74\u540c\u984d\u3067\u306f\u306a\u3044\u304a\u91d1\u304c\u5f97\u3089\u308c\u308b\u5834\u5408\u306eIRR<\/h3>\n<p>\u6b21\u306b\u3001\u3082\u3046\u5c11\u3057\u8907\u96d1\u306a\u5834\u5408\u306b\u3064\u3044\u3066IRR\u3092\u6c42\u3081\u3066\u307f\u307e\u3057\u3087\u3046\u3002\u4e0a\u3067\u30015\u5e74\u9593\u30671\u4e07\u5186\u305a\u3064\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u6295\u8cc7\u6848\u4ef6\u306e\u4f8b\u3092\u898b\u307e\u3057\u305f\u3002<\/p>\n<p>\u30fb\u6295\u8cc7\u6848\u4ef6A<\/p>\n<div class=\"tblCustm\">\n<table width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<th>\u6295\u8cc7\u6642<\/th>\n<th>1\u5e74\u5f8c<\/th>\n<th>2\u5e74\u5f8c<\/th>\n<th>3\u5e74\u5f8c<\/th>\n<th>4\u5e74\u5f8c<\/th>\n<th>5\u5e74\u5f8c<\/th>\n<\/tr>\n<tr>\n<td>-100<\/td>\n<td>1<\/td>\n<td>1<\/td>\n<td>1<\/td>\n<td>1<\/td>\n<td>101<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"alignR\">\uff08\u5358\u4f4d\uff1a\u4e07\u5186\uff09<\/div>\n<p>\u3053\u306e\u4f8b\u3092\u300c\u6295\u8cc7\u6848\u4ef6A\u300d\u3068\u3057\u3001\u3053\u308c\u3068\u6bd4\u8f03\u3059\u308b\u305f\u3081\u306b\u300c\u6295\u8cc7\u6848\u4ef6B\u300d\u3068\u3057\u3066\u6b21\u306e\u3088\u3046\u306a\u4f8b\u3092\u8003\u3048\u3001\u4e21\u8005\u306eIRR\u3092\u6c42\u3081\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>\u30fb\u6295\u8cc7\u6848\u4ef6B<\/p>\n<div class=\"tblCustm\">\n<table width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<th>\u6295\u8cc7\u6642<\/th>\n<th>1\u5e74\u5f8c<\/th>\n<th>2\u5e74\u5f8c<\/th>\n<th>3\u5e74\u5f8c<\/th>\n<th>4\u5e74\u5f8c<\/th>\n<th>5\u5e74\u5f8c<\/th>\n<\/tr>\n<tr>\n<td>-100<\/td>\n<td>3<\/td>\n<td>2<\/td>\n<td>0<\/td>\n<td>0<\/td>\n<td>100<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div class=\"alignR\">\uff08\u5358\u4f4d\uff1a\u4e07\u5186\uff09<\/div>\n<p>\u3053\u306e\u6295\u8cc7\u6848\u4ef6B\u306f\u3001100\u4e07\u5186\u3092\u6295\u8cc7\u3057\u3066\u30011\u5e74\u5f8c\u306b3\u4e07\u5186\u30012\u5e74\u5f8c\u306b2\u4e07\u5186\u306e\u5229\u76ca\u304c\u5f97\u3089\u308c\u305f\u3082\u306e\u306e\u3001\u305d\u306e\u5f8c\u306f\u5229\u76ca\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u305a\u30015\u5e74\u5f8c\u306b\u5143\u672c\u306e100\u4e07\u5186\u3092\u5f15\u304d\u4e0a\u3052\u305f\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n<p>\u6295\u8cc7\u6848\u4ef6A\u3068\u6295\u8cc7\u6848\u4ef6B\u306f\u3001\u3069\u3061\u3089\u3082\u300c5\u5e74\u9593\u30675\u4e07\u5186\u306e\u5229\u76ca\u300d\u304c\u5f97\u3089\u308c\u3066\u3044\u307e\u3059\u306e\u3067\u30015\u5e74\u9593\u3092\u901a\u3057\u305f\u5834\u5408\u306e\u5229\u76ca\u7387\u306f\u3069\u3061\u3089\u3082\u300c5\uff05\u300d\u3068\u306a\u308a\u307e\u3059\u3002IRR\u306f\u3069\u3046\u306a\u308b\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u3007\u6295\u8cc7\u6848\u4ef6A\u306eIRR<br \/>\nIRR\u306f\u3001\u5404\u5e74\u3067\u5f97\u3089\u308c\u305f\u5229\u76ca\u306e\u73fe\u5728\u4fa1\u5024\u3092\u8db3\u3057\u5408\u308f\u305b\u305f\u3082\u306e\u304c\u3001\u6295\u8cc7\u91d1\u984d100\u4e07\u5186\u3068\u540c\u3058\u3067\u3042\u308b\u3068\u3057\u305f\u3068\u304d\u306e\u5229\u76ca\u7387\u3068\u3057\u3066\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\u8a08\u7b97\u5f0f\u306f\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula09.jpg\" alt=\"100=1\/(1+r)+1\/(1+r)^2 +1\/(1+r)^3 +1\/(1+r)^4 +101\/(1+r)^5 \"\/><\/p>\n<p>\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u8a08\u7b97\u5f0f\u304b\u3089IRR\u3067\u3042\u308br\u3092\u7b46\u7b97\u3067\u6c42\u3081\u308b\u306e\u306f\u56f0\u96e3\u3067\u3059\u304c\u3001Excel\u306e\u95a2\u6570\u3092\u4f7f\u7528\u3059\u308b\u3053\u3068\u306b\u3088\u308a\u3001IRR\u3092\u8868\u304b\u3089\u7c21\u5358\u306b\u8a08\u7b97\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3053\u306e\u5834\u5408\u306bIRR\u306f\u300c1.000\uff05\u300d\u3068\u306a\u308a\u3001\u5e74\u9593\u306e\u5229\u56de\u308a\u3068\u4e00\u81f4\u3057\u307e\u3059\u3002<\/p>\n<p>\u3007\u6295\u8cc7\u6848\u4ef6B\u306eIRR<br \/>\n\u6295\u8cc7\u6848\u4ef6B\u306eIRR\u306f\u3001\u4e0a\u3068\u540c\u69d8\u306b\u3057\u3066\u3001<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula10.jpg\" alt=\"100=3\/(1+r)+2\/(1+r)^2 +0\/(1+r)^3 +0\/(1+r)^4 +0\/(1+r)^5\"\/><\/p>\n<p>\u3067\u6c42\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3053\u308c\u3092Excel\u3067\u8a08\u7b97\u3059\u308b\u3068\u3001IRR\u306f\u300c1.016%\u300d\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3059\u306a\u308f\u3061\u3001\u304a\u91d1\u306e\u73fe\u5728\u4fa1\u5024\u306f\u65e9\u304f\u5f97\u3089\u308c\u305f\u3082\u306e\u306e\u307b\u3046\u304c\u9ad8\u304f\u306a\u308b\u305f\u3081\u3001\u6295\u8cc7\u6848\u4ef6A\u3068\u6bd4\u8f03\u3057\u3066\u65e9\u671f\u306b\u5229\u76ca\u3092\u5f97\u3089\u308c\u305f\u6295\u8cc7\u6848\u4ef6B\u306e\u307b\u3046\u304c\u3001\u305f\u3068\u30485\u5e74\u9593\u3092\u901a\u3058\u305f\u5168\u4f53\u306e\u5229\u76ca\u7387\u306f\u540c\u3058\u3067\u3042\u3063\u3066\u3082\u3001IRR\u306f\u9ad8\u304f\u306a\u308b\u3068\u3044\u3046\u308f\u3051\u3067\u3059\u3002<\/p>\n<h2>4.\u3000IRR\u306e\u4e00\u822c\u7684\u306a\u8a08\u7b97\u5f0f<\/h2>\n<p>\u3053\u3053\u307e\u3067\u3067\u3001\u3044\u304f\u3064\u304b\u306e\u30b1\u30fc\u30b9\u306b\u3064\u3044\u3066IRR\u3092\u5b9f\u969b\u306b\u8a08\u7b97\u3057\u3066\u307f\u307e\u3057\u305f\u304c\u3001\u6700\u5f8c\u306bIRR\u306e\u4e00\u822c\u7684\u306a\u8a08\u7b97\u5f0f\u3092\u307f\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>\u30fbC<sub>0<\/sub> \u2026\u521d\u671f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08\u6295\u8cc7\u984d\u304c100\u4e07\u5186\u306a\u3089\uff0d100\u4e07\u5186\uff09<br \/>\n\u30fbC<sub>0<\/sub>\uff5eC<sub>n<\/sub> \u2026n\u5e74\u76ee\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08\u5229\u76ca\uff09<br \/>\n\u30fbr \u2026IRR<\/p>\n<p>\u3068\u3057\u305f\u5834\u5408\u3001IRR\u3092\u8a08\u7b97\u3059\u308b\u305f\u3081\u306e\u4e00\u822c\u5f0f\u306f\u3001\u6b21\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula11.jpg\" alt=\"C_1\/(1+r)+C_2\/(1+r)^2 +C_3\/(1+r)^3 +\u22ef+C_n\/(1+r)^n =-C_0\"\/><\/p>\n<p>\u3053\u306e\u5f0f\u306f\u3001\u53f3\u8fba\u3092\u5de6\u8fba\u306b\u79fb\u9805\u3057\u3066\u6b21\u306e\u3088\u3046\u306b\u66f8\u304b\u308c\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" src=\"\/manabu\/image\/column\/column34_formula12.jpg\" alt=\"C_0+C_1\/(1+r)+C_2\/(1+r)^2 +C_3\/(1+r)^3 +\u22ef+C_n\/(1+r)^n =0\"\/><\/p>\n<h2>\u307e\u3068\u3081<\/h2>\n<p>IRR\u306f\u4ee5\u4e0a\u3067\u307f\u3066\u304d\u305f\u901a\u308a\u3001\u5f97\u3089\u308c\u308b\u5229\u76ca\u304c\u5e74\u3054\u3068\u306b\u7570\u306a\u308b\u5834\u5408\u306b\u3082\u6b63\u3057\u304f\u5229\u76ca\u7387\u3092\u793a\u3059\u3053\u3068\u304c\u53ef\u80fd\u3068\u306a\u308b\u305f\u3081\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306a\u3069\u306e\u6295\u8cc7\u5224\u65ad\u306b\u4f7f\u7528\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u6307\u6a19\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u6295\u8cc7\u306e\u521d\u5fc3\u8005\u304cIRR\u307e\u3067\u3092\u8003\u3048\u3066\u6295\u8cc7\u3092\u3059\u308b\u306e\u306f\u3001\u3084\u3084\u30cf\u30fc\u30c9\u30eb\u304c\u9ad8\u3044\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u6295\u8cc7\u3092\u59cb\u3081\u3066\u3059\u3050\u306e\u3046\u3061\u306f\u3001\u5e74\u9593\u306e\u4e88\u60f3\u5229\u56de\u308a\u304c\u6bd4\u8f03\u7684\u306f\u3063\u304d\u308a\u3057\u3066\u3044\u308b\u6295\u8cc7\u4fe1\u8a17\u3084\u592a\u967d\u5149\u767a\u96fb\u30d5\u30a1\u30f3\u30c9\u306a\u3069\u3092\u8a66\u3057\u3066\u307f\u308b\u306e\u304c\u826f\u3044\u3068\u3044\u3048\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IRR\u3068\u306f\u3001\u6295\u8cc7\u306b\u304a\u3051\u308b\u5229\u76ca\u7387\u3092\u3001\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u8003\u3048\u306b\u5165\u308c\u3066\u8868\u3059\u3082\u306e\u3067\u3059\u3002\u5229\u76ca\u304c\u65e9\u671f\u306b\u5f97\u3089\u308c\u308b\u3082\u306e [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1562,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[169],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/posts\/1533"}],"collection":[{"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/comments?post=1533"}],"version-history":[{"count":15,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/posts\/1533\/revisions"}],"predecessor-version":[{"id":2162,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/posts\/1533\/revisions\/2162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/media\/1562"}],"wp:attachment":[{"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/media?parent=1533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/categories?post=1533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ecostyle-fund.com\/manabu\/wp-json\/wp\/v2\/tags?post=1533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}