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
% T* O! }) G5 Sfailed to make the first payment and now wishes to settle her obligations with a
% X' l. J+ ~. L0 D! Lsingle payment four months from now. What payment should Thelma be willing to
/ ?& c( T2 L5 u3 H7 @3 X* aaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
- |$ n. Y/ o4 b3 C8 I0 v                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               
PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
) K9 c2 U" z7 _' a: }" j. k2 C                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
& A3 g. F$ z- c: g6 \9 x# y% R7 w6 ^
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
1 @2 a  R. q+ I8 c1 k' X                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
7 p8 o  C2 y9 X; R& n- @

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