作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
3 n; {. ~; Z6 F9 Pmonths respectively from the date of the agreement. With each payment, Louise
) c5 j% l1 f3 e  J4 ?' T  lagreed 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
9 l; B% L5 H, T* V) l5 o/ Lsingle payment four months from now. What payment should Thelma be willing to
* H0 j8 S" e; m; ?accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
5 _% Z( }% f1 Y) l, E                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
3 L' T+ `' F* @$ M: _Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
' j- a- v' v- D3 Y$ {5 `PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
# N/ {8 b! I. Y, j                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
6 W) a7 ~, t, a8 j" Y( @
5 |  A& T2 V+ a$ J3 \' h$ [2 Lthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
/ f  E3 T6 q% p  O                                       
' Z: \0 H- s1 BSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
4 o+ g1 D' u; d* N; W, ]; l# D

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