作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
. ?, O/ C) N- D# c9 m- @  z: v8 Zagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
failed to make the first payment and now wishes to settle her obligations with a
4 H0 K2 k% M1 T- msingle payment four months from now. What payment should Thelma be willing to
+ x& [$ k7 m( a: Kaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
+ @; b: C6 N) {# B# T; ~                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
. h1 g7 o4 U& K( FCash 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]
& s; z1 p/ c( i                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
1 U& P+ l: |/ C( c! W7 x
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
5 q; h% K8 C; i; EConclusion        X        =        1729.8               
% p2 h9 w3 X, X                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
& A- ~) T% y- S6 h+ j

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