作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
# n. J1 J$ H6 @5 dmonths respectively from the date of the agreement. With each payment, Louise
agreed 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
single payment four months from now. What payment should Thelma be willing to
; `: D! w( E# Zaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
8 t* s1 F% |' |1 f) Q, J) UCash 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]
$ S1 _  L. O0 m: K( d2 H                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
: A0 j: X7 d) v& p* x7 i9 C9 V$ A
these 3 should add up to 0, i.e. NPV at month 0 is 0.
# a+ ]8 V) ]0 w4 J                                       
% w/ T" k3 H- ^- oConclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
" F" Q* y1 S& A4 ~4 G$ R; h2 H

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