作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
3 W2 [4 }: P/ k" F6 `: fagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
5 t% u9 x  T. k$ `7 Y% H- u: bfailed to make the first payment and now wishes to settle her obligations with a
" s; Y5 ]/ c2 @8 ]single payment four months from now. What payment should Thelma be willing to
/ z* _  Q% h. R; Xaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
9 {5 }4 V2 g) X! L4 c/ T                Month 0        Mon. 8                  Mon. 12
7 h( l2 Y4 O8 F3 W) |: rCash Principal        X        -750                  -950       
  r; R4 R; {  r9 N) @7 f: r+ ACash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
PV 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)

0 a1 {1 |  A9 @& Z( g# {* o* t: Ythese 3 should add up to 0, i.e. NPV at month 0 is 0.
3 N7 s: c2 f+ d* l+ w                                       
Conclusion        X        =        1729.8               
5 ~% _! M( h( C: l# z                                       
* I2 b% l0 H  ?0 B6 k0 ?So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
' F8 @7 X$ y: H5 k* F/ F' x8 P

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