作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
% e$ o- I7 i  e0 g5 A0 ragreed 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
8 b9 \/ Q3 W6 A' Faccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
0 q& w9 i# {  `2 g6 v                Month 0        Mon. 8                  Mon. 12
; v. w% Q5 r& d* x, JCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
- s" p% {% |7 t) ]  o! D. H1 ~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)
& a' z: T( l9 x9 T
' A' N$ P" s% O$ }$ d/ `/ M) othese 3 should add up to 0, i.e. NPV at month 0 is 0.
* K7 L: ^) O6 E* L7 h9 t                                       
Conclusion        X        =        1729.8               
, k7 L) i6 p& t6 t                                       
4 M" r" X  \1 L  XSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
2 o  E+ O( I" }6 ]; B. v8 r3 b( H

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