作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
( s" N$ t& y" o! T+ g' sagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
# y+ i6 z5 R+ W# L# rfailed to make the first payment and now wishes to settle her obligations with a
( x% O7 o2 p( u6 esingle payment four months from now. What payment should Thelma be willing to
$ o& x! k2 I4 m# naccept 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       
Cash 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]
, k( ^; N& j" I! H                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

these 3 should add up to 0, i.e. NPV at month 0 is 0.
% Z( R' D' H3 U, ?' L, Q. v' J                                       
7 G4 y0 H: Q  M  s2 N" ?. HConclusion        X        =        1729.8               
                                       
- R+ J. L+ ?6 r" rSo, 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