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
- o/ A, j* O6 s! iagreed 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
3 D7 n/ x5 ?4 O3 ~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 v  a% b8 D$ G# f* m% R                Month 0        Mon. 8                  Mon. 12
( v5 o" G" r+ l7 A7 Y' l! K/ }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]
7 [, z. x# ]2 d0 N& Q6 b+ i6 j                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

- H( O, G6 g1 j  V7 \, p- F- V" Z+ Fthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
/ H# z% G0 v* J3 i

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