{"id":5324,"date":"2022-09-23T18:32:34","date_gmt":"2022-09-23T09:32:34","guid":{"rendered":"https:\/\/forum.trustonasset.com\/?p=5324"},"modified":"2025-05-09T00:40:57","modified_gmt":"2025-05-08T15:40:57","slug":"853382fb9fed1234c07a338676456f691b244c6a4821bb844c1776e514e2eaaeec853382fb9fed1234c07a338676456f691b244c6a4821bb844c1776e514e2eaae95853382fb9fed1234c07a338676456f691b244c6a4821bb844c1776e514e2eaa","status":"publish","type":"post","link":"https:\/\/forum.trustonasset.com\/?p=5324","title":{"rendered":"\uc54c\uc544\ub450\uba74 \uc815\ub9d0 \uc694\uae34\ud55c \ucc44\uad8c\uac00\uaca9 5\uc815\ub9ac"},"content":{"rendered":"\n \n

\ucd5c\uadfc \uc8fc\uc2dd\uc2dc\uc7a5\uc758 \uc2dc\ud669\uc774\n\uc88b\uc9c0 \uc54a\ub2e4. 2022\ub144 1\uc6d4 3\uc77c \uae30\uc900 2988.77 \uc774\uc5c8\ub358 \ucf54\uc2a4\ud53c\ub294 9\uc6d4 19\uc77c\uae30\uc900 2355.66 \uc73c\ub85c 21% \ub118\uac8c \ud558\ub77d\ud588\ub2e4. \uac19\uc740 \uae30\uac04 \ucf54\uc2a4\ub2e5\uc740 1037.83 \uc5d0\uc11c 751.91 \ub85c 27%\n\ub118\uac8c \ube60\uc84c\ub2e4. \uc774\uc5d0 \ub530\ub77c \ub9ce\uc740 \ud22c\uc790\uc790\ub4e4\uc774 \ud22c\uc790 \uc790\uae08\uc744 \ubd80\uc9c4\ud55c \uc8fc\uc2dd\uc2dc\uc7a5\uc5d0\uc11c \ubcf4\ub2e4 \uc548\uc815\uc801\uc778\n\uc608\uc801\uae08, \ub610\ub294 \ucc44\uad8c \uc2dc\uc7a5\uc73c\ub85c \uc62e\uae30\uace0 \uc788\ub2e4. <\/p>\n\n\n\n \n

\uc8fc\uc2dd\uc758 \uacbd\uc6b0, \ube44\uad50\uc801 \uc548\uc815\uc801\uc778 \ubc30\ub2f9\uc8fc\ub3c4 \uc2dc\uc138\uc758 \ubcc0\ub3d9 \ub54c\ubb38\uc5d0 \uc190\ud574\ub97c \uc785\uc744 \uac00\ub2a5\uc131\uc774 \uc788\ub2e4. \uadf8\ub7ec\ub098, \ucc44\uad8c\uc740 \uc218\uc775\uc758 \ubcc0\ub3d9\ud3ed\uc740 \uc791\uc9c0\ub9cc \ub9cc\uae30\uae4c\uc9c0 \ubcf4\uc720\ud558\uba74 \uc815\ud574\uc9c4 \uae08\ub9ac\ub97c \uc218\uc775\uc73c\ub85c \ud655\uc815\uc9c0\uc744 \uac00\ub2a5\uc131\uc774 \ub192\uace0(\ucc44\uad8c\uc774 \ubd80\ub3c4\ub098\uc9c0 \uc54a\ub294\ub2e4\ub294 \uc804\uc81c \ud558\uc5d0), \uc2dc\uc138 \ubcc0\ub3d9\uc5d0 \ub530\ub77c \uc911\ub3c4 \ub9e4\ub3c4\ud558\uc5ec\n\uc2dc\uc138\ucc28\uc775\uae4c\uc9c0 \uac70\ub458 \uc218 \uc788\ub2e4\ub294 \uc810\ub3c4 \ub9e4\ub825\uc774\ub2e4. <\/p>\n\n\n\n \n

\ucc44\uad8c \ud22c\uc790\ub97c \ud560 \ub54c, \ub9d0\ud0ac(Malkiel)\uc774\ub77c\ub294 \uc720\uba85\ud55c \uacbd\uc81c\ud559\uc790\uac00 \ucc44\uad8c\uc218\uc775\ub960\uacfc \ucc44\uad8c \uac00\uaca9\n\uac04\uc758 \uad00\uacc4\ub97c \uc815\ub9ac\ud55c \uac83\uc744 \ucc38\uace0\ud558\ub294 \uac83\uc774 \ub9e4\uc6b0 \ud070 \ub3c4\uc6c0\uc774 \ub420 \uac83\uc774\ub77c \ud310\ub2e8\ud574 \uc5ec\uae30\uc5d0 \uc18c\uac1c\ud55c\ub2e4. \uc774 \uc815\ub9ac\ub97c\n\ucc44\uad8c\uac00\uaca9\uc815\ub9ac \ub610\ub294 \ub9d0\ud0ac\uc758 \uc815\ub9ac(\ub610\ub294 5\uc815\ub9ac) \ub77c\uace0 \ud55c\ub2e4. \uc77c\ubc18 \ucc44\uad8c(\ud560\uc778\ucc44, \uace0\uc815\uae08\ub9ac\ucc44\uad8c)\uc5d0 \ub450\ub8e8 \uc801\uc6a9\ub418\uba70, \ub2e4\ub9cc\n\ud2b9\uc218\ud55c \ucc44\uad8c(\ubcc0\ub3d9\uae08\ub9ac\ucc44\uad8c, \uc635\uc158\ubd80\ucc44\uad8c) \uc5d0\ub294 \uc801\uc6a9\ub418\uc9c0 \uc54a\uc744 \uc218 \uc788\ub2e4. \ucc38\uace0\ub85c, \uc218\uc775\ub960\/\uc774\uc790\uc728\/\uae08\ub9ac\/\ud45c\uba74\uc774\uc790\uc728 \ubaa8\ub450 \ube44\uc2b7\ud55c \uac1c\ub150\uc73c\ub85c \uc774\ud574\ud558\uc5ec \uc815\ub9ac\ub97c \uc774\ud574\ud558\uba74 \ud3b8\ud560 \uac83\uc774\ub2e4.<\/p>\n\n\n\n \n

\uc81c1\uc815\ub9ac – \ucc44\uad8c\uac00\uaca9\uc740 \uc774\uc790\uc728\uacfc \uc5ed\uc758 \uad00\uacc4(\ubc18\ube44\ub840)\uc5d0 \uc788\ub2e4.<\/strong><\/p>\n\n\n\n \n

\u261e \uc218\uc775\ub960(\uae08\ub9ac)\uc774 \uc624\ub974\uba74\n\ucc44\uad8c\uac00\uaca9\uc740 \ud558\ub77d\ud558\uace0, \uc218\uc775\ub960\uc774 \ub0b4\ub9ac\uba74 \ucc44\uad8c\uac00\uaca9\uc740 \uc0c1\uc2b9\ud55c\ub2e4.<\/p>\n\n\n\n \n

\ucc44\uad8c\uac00\uaca9\uc740 \ud655\uc815\ub41c \ubbf8\ub798\ud604\uae08\ud750\ub984\uc744 \uc218\uc775\ub960\ub85c \ud560\uc778\ud55c \uac83\uc774\ub2e4.<\/p>\n\n\n\n \n

\uacf5\uc2dd\uc740 \ub2e4\uc74c\uacfc \uac19\ub2e4.<\/p>\n \n\n\n\n \n

P = C \/ r<\/strong>\n<\/p>\n\n\n\n \n

(P\n= \uac00\uaca9, C = \ubbf8\ub798\ud604\uae08\ud750\ub984, r = \uae08\ub9ac(\uc218\uc775\ub960) )<\/p>\n\n\n\n \n

ex) 1<\/strong>\ub144 \ud6c4 110\uc6d0<\/strong>\uc744 \ubc1b\uc744 \uc218 \uc788\ub294 \ucc44\uad8c\uc758 \ud604\uc7ac\uac00\uce58<\/strong>(\uac00\uaca9)\ub294 \uae08\ub9ac\uac00 10%<\/strong>\uc77c \ub54c\ub294 100\uc6d0<\/strong>(=110\uc6d0\/1.1), 20%<\/strong>\uc77c \ub54c\ub294 91.67\uc6d0<\/strong>(=110\uc6d0\/1.2)<\/p>\n\n\n\n \n

\uc989, \uc218\uc775\ub960\uc774 \ub192\uc744\uc218\ub85d\n\ud560\uc778\ud3ed\uc774 \ucee4\uc11c \ucc44\uad8c\uac00\uaca9\uc740 \uac10\uc18c\ud55c\ub2e4.<\/p>\n\n\n\n \n

\uc81c2\uc815\ub9ac \u2013 \uc218\uc775\ub960\uc774 \ubcc0\ub3d9\ud560 \ub54c \uac00\uaca9\ubcc0\ub3d9\uc740 \ub9cc\uae30\uac00\n\uae38\uc218\ub85d \ucee4\uc9c4\ub2e4.<\/strong><\/p>\n\n\n\n \n

\u261e \ub9cc\uae30\uae4c\uc9c0 \ub0a8\uc740 \uae30\uac04\uc774 \uae38\uc218\ub85d \uae08\ub9ac\ubcc0\ub3d9\uc5d0 \ub354 \ub9ce\uc774 \ub178\ucd9c\ub41c\ub2e4.<\/p>\n\n\n\n \n

\ub2e4\ub978 \uc870\uac74\uc774 \uac19\ub2e4\uba74 \ub2e8\uae30\ucc44\ubcf4\ub2e4 \uc7a5\uae30\ucc44\uc758 \uac00\uaca9\ubcc0\ub3d9\uc774 \ud06c\ub2e4. <\/p>\n\n\n\n \n

\uc81c3\uc815\ub9ac \u2013 \uc218\uc775\ub960\uc774 \ubcc0\ub3d9\ud560 \ub54c \uac00\uaca9\ubcc0\ub3d9\uc740 \ub9cc\uae30\uac00\n\uae38\uc218\ub85d \ucee4\uc9c0\ub098, \uadf8 \uc99d\uac10\ub960\uc740 \uccb4\uac10\ud55c\ub2e4.<\/strong><\/p>\n\n\n\n \n

\u261e \ud55c\uacc4\ud6a8\uc6a9\uccb4\uac10\uc758 \ubc95\uce59\uc774 \ucc44\uad8c\uc2dc\uc7a5\uc5d0\uc11c\ub3c4 \uc801\uc6a9\ub41c\ub2e4.<\/p>\n\n\n\n \n

1\ub144 \ub9cc\uae30\ucc44\uc758 \uac00\uaca9\uc774 10\ub9cc\ud07c \ubcc0\ub3d9\ud55c\ub2e4\uba74, \ub9cc\uae30\uac00 3\ubc30\n\uae34 3\ub144 \ub9cc\uae30\ucc44\ub294 30\ub9cc\ud07c \ubcc0\ub3d9\ud558\uc9c0 \uc54a\ub294\ub2e4. \uc774\ubcf4\ub2e4 \uc801\uac8c, 29 \uc774\ud558\ub9cc\ud07c \ubcc0\ub3d9\ud3ed\uc744 \ubcf4\uc778\ub2e4.<\/p>\n\n\n\n \n

\uc81c4\uc815\ub9ac – \ub9cc\uae30\uac00 \uc77c\uc815\ud560 \ub54c, \uc218\uc775\ub960 \ud558\ub77d\uc73c\ub85c \uc778\ud55c \uac00\uaca9 \uc0c1\uc2b9\ud3ed\uc740 \uac19\uc740 \ud3ed\uc758 \uc218\uc775\ub960 \uc0c1\uc2b9\uc73c\ub85c \uc778\ud55c \uac00\uaca9 \ud558\ub77d\ud3ed\ubcf4\ub2e4 \ud06c\ub2e4.<\/strong><\/p>\n\n\n\n \n

\u261e \uc218\uc775\ub960\uc774 \ud558\ub77d\ud558\uba74 \uae30\uc6b8\uae30(\uac00\uaca9\ubcc0\ub3d9\ud3ed)\uc774\n\uc99d\uac00\ud55c\ub2e4. \ubc18\uba74\uc5d0 \uc218\uc775\ub960\uc774 \uc0c1\uc2b9\ud558\uba74 \uae30\uc6b8\uae30(\uac00\uaca9\ubcc0\ub3d9\ud3ed)\uac00 \uac10\uc18c\ud55c\ub2e4. \uc989, \uac00\uaca9\uc758\n\uc0c1\uc2b9\ud3ed\uc774 \ud558\ub77d\ud3ed\ubcf4\ub2e4 \ud06c\ub2e4.<\/p>\n\n\n\n \n

\uc81c5\uc815\ub9ac – \ud45c\uba74\uc774\uc790\uc728\uc774 \ub192\uc744\uc218\ub85d \uc218\uc775\ub960 \ubcc0\ub3d9\uc5d0\n\ub300\ud55c \uac00\uaca9 \ubcc0\ub3d9\ub960\uc774 \uc791\uc544\uc9c4\ub2e4.<\/strong><\/p>\n\n\n\n \n

\u261e \ucc44\uad8c\uc758 \uc6d0\uae08 \ubd80\ubd84\uc774 \uc774\uc790 \ubd80\ubd84\ubcf4\ub2e4 \uae08\ub9ac\ubcc0\ub3d9\uc5d0 \ub354 \ubbfc\uac10\ud558\ub2e4.<\/p>\n\n\n\n \n

\ud45c\uba74\uc774\uc728\uc774 \ub192\uc744\uc218\ub85d \ucc44\uad8c\uc758 \uc6d0\ub9ac\uae08\uc5d0\uc11c \ucc28\uc9c0\ud558\ub294 \uc774\uc790\ube44\uc911\uc774 \ucee4\uc838\uc11c, \uae08\ub9ac\ubcc0\ub3d9\uc5d0 \ub300\ud55c \ubbfc\uac10\ub3c4\uac00 \uc791\uc544\uc9c4\ub2e4.<\/p>\n \n\n\n

\n
\"\"
\ub9d0\ud0ac\uc758 \uc815\ub9ac\ub97c \uc751\uc6a9\ud558\uba74 \ucc44\uad8c\uac00\uaca9\uc758 \uc6c0\uc9c1\uc784\uc744 \uc774\ud574\ud558\uace0,
\ucc44\uad8c\ud22c\uc790\uc5d0 \uc694\uae34\ud558\uac8c \ud65c\uc6a9\ud560 \uc218 \uc788\ub2e4. <\/figcaption><\/figure><\/div>\n\n\n

\ub9d0\ud0ac\uc758 \uc815\ub9ac\ub97c \uc751\uc6a9\ud558\uba74\n\ucd5c\uadfc\uc758 \uae08\ub9ac\uc640 \ucc44\uad8c \uac00\uaca9\uc758 \uc6c0\uc9c1\uc784\uc744 \uc774\ud574\ud560 \uc218 \uc788\ub2e4. \uae08\uc735\ud22c\uc790\ud611\ud68c \uc790\ub8cc\uc5d0 \ub530\ub974\uba74, \uc7a5\uc678 \uc2dc\uc7a5\uc5d0\uc11c \uac1c\uc778\uc740 \uc5f0\ucd08\ubd80\ud130 9\uc6d4 22\uc77c \ud604\uc7ac 13\uc870\uac00 \ub118\uac8c \uc21c\ub9e4\uc218\ud588\ub2e4.\n\ucc44\uad8c \uae08\ub9ac\ub294 \uc5f0\ucd08 1.795% \uc600\uc73c\ub098 9\uc6d4 22\uc77c \uae30\uc900 3.864% \ub85c \ub6f0\uc5c8\ub2e4.\n\ub9d0\ud0ac\uc758 1\uc815\ub9ac\uc5d0 \ub530\ub974\uba74 \ucc44\uad8c\uac00\uaca9\uc740 \uc774\uc790\uc728\uacfc \ubc18\ube44\ub840\ud558\uae30 \ub54c\ubb38\uc5d0, \uae08\ub9ac\uac00 \uc62c\ub77c\uac00\uba74 \ucc44\uad8c\uc758 \uac00\uaca9\uc774 \ub5a8\uc5b4\uc9c4\ub2e4. \ucc44\uad8c\uc758 \uac00\uaca9\uc774 \uadf8\ub9cc\ud07c \ub0ae\uc544\uc84c\uae30 \ub54c\ubb38\uc5d0 \uc800\uc810\ub9e4\uc218\uc138\uac00 \ub4e4\uc5b4\uc628 \uac83\uc774\ub2e4. \uc774\ud6c4\uc5d0\n\uae08\ub9ac\uac00 \uc778\ud558\ub418\uac70\ub098 \uc5ec\ub7ec \ud658\uacbd \ubcc0\ud654\ub85c \ucc44\uad8c\uc758 \uac00\uaca9\uc774 \uc62c\ub77c\uac00\uba74 \ub9e4\ub3c4\ud558\uc5ec \uc2dc\uc138\ucc28\uc775\uc744 \ucc59\uae38 \uc218 \uc788\uace0, \ucc44\uad8c\uc758\n\uac00\uaca9\uc774 \ub5a8\uc5b4\uc9c0\uac70\ub098 \ubcc0\ud568\uc5c6\ub2e4 \ud574\ub3c4 \uc5ec\uc804\ud788 \uc6d0\uae08\uacfc \uc774\uc790\ub97c \ucc59\uae38 \uc218 \uc788\uae30 \ub54c\ubb38\uc774\ub2e4.<\/p>\n\n\n\n \n

\uadf8\ub7ec\ub098 \ucc44\uad8c\uc774\ub77c \ud558\uc5ec \ubb34\uc870\uac74 \uc6d0\uae08 \ubcf4\uc7a5\uc774 \ub41c\ub2e4\ub294 \uac83\uc740 \uc544\ub2c8\ub2e4. \ubc1c\ud589 \uc8fc\uccb4\uc5d0 \ub530\ub77c \ub9ac\uc2a4\ud06c \ud06c\uae30\uac00 \ub2ec\ub77c\uc9c8 \uc218 \uc788\uae30 \ub54c\ubb38\uc774\ub2e4. \uc608\ub97c\n\ub4e4\uc5b4, \ubbf8\uad6d \uc815\ubd80\uac00 \ubc1c\ud589\ud55c \ubbf8\uad6d \uad6d\ucc44\ub294 \uac00\uc7a5 \uc548\uc804\ud55c \ucc44\uad8c \uc911 \ud558\ub098\ub85c \uc190\uaf3d\ud78c\ub2e4. \ub300\uc2e0 \uadf8\ub9cc\ud07c \uc218\uc775\ub960\uc740 \ub0ae\uc740 \ud3b8\uc774\ub2e4. \ubc18\uba74\uc5d0, \uc77c\ubc18 \ud68c\uc0ac\uac00 \ubc1c\ud589\ud558\ub294 \ud68c\uc0ac\ucc44\uc758 \uacbd\uc6b0 \uc815\ubd80\uac00 \ubc1c\ud589\ud558\ub294 \uad6d\uacf5\ucc44\ubcf4\ub2e4\ub294 \uc218\uc775\ub960\uc774 \ub192\uc740 \ud3b8\uc774\ub2e4. \uadf8\ub7ec\ub098 \uadf8 \ud68c\uc0ac\uac00 \ud30c\uc0b0\ud558\uac70\ub098 \ucc44\ubb34\uc9c0\ubd88\uc744 \uc774\ud589\ud558\uc9c0 \ubabb\ud560 \uacbd\uc6b0 \uc774\uc790\ub294 \ubb3c\ub860 \uc6d0\uae08\uc744 \ub3cc\ub824\ubc1b\uc9c0 \ubabb\ud560 \uac00\ub2a5\uc131\ub3c4 \uc874\uc7ac\ud55c\ub2e4. \ub610\ud55c \ub300\ubd80\ubd84\uc758 \uc99d\uad8c\uc0ac\ub294 \uc77c\uc815 \uc218\uc900 \uc774\uc0c1\uc758 \uc6b0\ub7c9\ucc44\ub97c \ucde8\uae09\ud558\uc9c0\ub9cc, \ub9e4\uc785\ud558\ub294\n\ucc44\uad8c\uc774 \uc0c1\ud658 \uac00\ub2a5\uc131\uc774 \ube44\uad50\uc801 \ub0ae\uc740 \ube44\uc6b0\ub7c9\ucc44\ub098 \ucc44\ubb34\uc0c1\ud658 \uc21c\uc704\uac00 \ubc00\ub9ac\ub294 \u2018\ud6c4\uc21c\uc704\u2019 \ucc44\uad8c\uc778\uc9c0\ub3c4 \uaf3c\uaf3c\ud788 \ub530\uc838\ubd10\uc57c \ud55c\ub2e4. <\/p>\n \n\n\n\n

\n\n (\ud2b8\ub7ec\uc2a4\ud1a4\uc790\uc0b0\uc6b4\uc6a9 \uace0\uc7ac\ub7c9 \uc5f0\uad6c\uc6d0) \n\n<\/p>\n","protected":false},"excerpt":{"rendered":"

  \ucd5c\uadfc \uc8fc\uc2dd\uc2dc\uc7a5\uc758 \uc2dc\ud669\uc774 \uc88b\uc9c0 \uc54a\ub2e4. 2022\ub144 1\uc6d4 3\uc77c \uae30\uc900 2988.77 \uc774\uc5c8\ub358 \ucf54\uc2a4\ud53c\ub294 9\uc6d4 19\uc77c\uae30\uc900 ···<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5,4,8,13],"tags":[156,161,160,154,157,159,155],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p8gpnE-1nS","_links":{"self":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/5324"}],"collection":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5324"}],"version-history":[{"count":4,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/5324\/revisions"}],"predecessor-version":[{"id":6652,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=\/wp\/v2\/posts\/5324\/revisions\/6652"}],"wp:attachment":[{"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forum.trustonasset.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}