作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
4 v9 i! k' c( u$ q  imonths respectively from the date of the agreement. With each payment, Louise
+ V: e2 f- Z  c3 E; Q6 }+ Kagreed 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
- }0 p  D' i  Zsingle payment four months from now. What payment should Thelma be willing to
% O& L4 m2 B1 M8 O/ V/ `0 Qaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
1 S' c) u; G) ~2 W* ]1 ~# q                Month 0        Mon. 8                  Mon. 12
0 J4 }7 k" s8 Y7 u& b2 S: Q4 aCash Principal        X        -750                  -950       
! w5 `: g+ J. W5 k& B+ {Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
, g+ g0 z+ @3 J& z) W: j/ aPV 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)
* y0 u& h0 P4 I/ o
these 3 should add up to 0, i.e. NPV at month 0 is 0.
: f5 L8 J$ t5 l9 K                                       
Conclusion        X        =        1729.8               
1 S# b( e* l4 h- a! b2 r                                       
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