作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
" A# {6 S+ t! v! z$ Yagreed 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
( E: P# y0 ~- {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                                       
# d% w) r& D5 H' g  N* U  K                Month 0        Mon. 8                  Mon. 12
- K1 B1 q1 m' v* z' X( {Cash Principal        X        -750                  -950       
5 n: Q8 g- Y; [2 gCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
3 r0 s3 ]8 ]1 }$ K- @0 B% _1 kPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
3 {2 q. y) N% p5 O# L* i                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
* C- Q6 A" q+ w0 j1 O* H
4 w0 p5 P% l8 K& O; H' n# Wthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
( h1 H3 g( _3 ^- G! b+ G+ G; d                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
$ s) a- @% X! Y

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