作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
7 ?, a$ Z6 d( g7 l- Emonths respectively from the date of the agreement. With each payment, Louise
7 [' b. t1 ]. w$ U+ M1 u* Vagreed 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
. h7 ^5 i- F  v2 `% m. faccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
; |+ W, n  h" a! RCash 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]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
! O. w8 Q0 D7 w% n# G) s/ d( l
' |+ i% k* x( v5 Rthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
2 C6 Q1 i* b4 M5 f                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
! P- |. X4 @( I: _! a

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