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
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
& s; g& U8 [7 Z( pfailed 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                                       
                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
9 R0 G* a! K, Y, jCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
+ V& U, T/ R1 Z/ H' ]  e, L- ^PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
- _" Q- {2 A- x                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
2 A- m6 i  k8 A
these 3 should add up to 0, i.e. NPV at month 0 is 0.
2 [( x5 ]& I5 O, P& X) M  {& Y( ~                                       
! e- \3 F+ D( v" I% \& \6 ]Conclusion        X        =        1729.8               
4 ^, U0 u+ b/ q% y                                       
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