作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
& G. v" U& V. P# _& Sagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
failed to make the first payment and now wishes to settle her obligations with a
" C3 @# O: _3 [7 S  `, {single payment four months from now. What payment should Thelma be willing to
7 T$ F4 A; d- e7 ]& ?accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
1 r1 Z; t$ @0 [% n& Z                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
+ k  l$ `& s4 ?: K5 C- b& LPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
" E- W1 w; ]/ ^                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

/ R! F5 u# s1 g+ Nthese 3 should add up to 0, i.e. NPV at month 0 is 0.
9 z: I& D# T# @- _                                       
1 y5 H8 r9 u4 U: A3 D& @# MConclusion        X        =        1729.8               
2 k3 K2 x' m. L                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860

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