作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
" ?: f1 ?4 p! `. o, R! P& @0 E1 Yagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
# i% \: G/ h3 F: P) v6 y# rfailed to make the first payment and now wishes to settle her obligations with a
' l8 T+ N! w6 `) D$ Wsingle 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                                       
                Month 0        Mon. 8                  Mon. 12
3 P) W& B2 P5 X+ w' ^8 O% a* kCash Principal        X        -750                  -950       
9 S; E( I" {- }8 F. c3 iCash 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)
6 G( u) M* q/ H8 D& M
6 H& B' U& d. q2 S1 k" ^! Vthese 3 should add up to 0, i.e. NPV at month 0 is 0.
% w, T/ W$ E2 e# |                                       
6 C! {" n$ L* p: LConclusion        X        =        1729.8               
! f2 b0 B( a6 k* m; t9 @# }                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860

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