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
; Q) O* f+ t' k9 W8 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
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                                       
, |4 Y' B! v- ~* m$ y" l1 v                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
( d- C: L9 d. y% y& {8 gCash 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]
% G. W0 o3 Q1 O- k; q7 K. F                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
' z( x. g  s1 t" p6 \* E; ?/ Q
these 3 should add up to 0, i.e. NPV at month 0 is 0.
( A( j" S& }- O, W( \& V                                       
Conclusion        X        =        1729.8               
                                       
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