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
- |+ r( f% I4 v5 e- u% _6 j2 p! L! uagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
$ s7 D" p; T) t' T) v! vfailed 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
* d# _6 B- P& o$ I& aaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
2 i/ [& O) [( B5 O& D* T3 ^Cash Principal        X        -750                  -950       
: }* W8 n7 |7 u8 Y) x2 OCash 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]
- ]( t" G8 d! f7 k+ ?+ ]) Z                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
! u5 h9 o9 N# }, e! F
these 3 should add up to 0, i.e. NPV at month 0 is 0.
  g3 ?5 J9 ^- K) N9 i                                       
Conclusion        X        =        1729.8               
4 w" W% V. Q$ Z$ m+ M                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
9 `# s1 d7 E! N

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