作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
failed to make the first payment and now wishes to settle her obligations with a
single payment four months from now. What payment should Thelma be willing to
accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
3 j4 P+ ?% m/ a  {3 v5 t4 b                Month 0        Mon. 8                  Mon. 12
5 y$ n6 y( ^4 Y9 s) }Cash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
# j  G- ~: i! A! e. FPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

! R9 _, c  B0 ~. s# |* k9 Nthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
* }( X' i( m: z1 U( K8 DConclusion        X        =        1729.8               
9 p( _  y+ U4 t, V. o$ b, |                                       
% O$ F: @4 J, vSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
$ O1 C! m5 H' c; `: ]1 X

littledognancy

Finance 学得不好所以不知道做得对不对。。。看着办吧~ 也许有用。

linchan

对了，答案是$1856.32