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
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
2 U( P8 e  h9 J% _; N( q. zfailed 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
( @  X) h% K' I/ [+ g& |accept 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       
: Q, Y  l; E2 k0 @3 G" YCash 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]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
; F, E& e# Q- L; @
0 `+ d: {: Z1 V0 q  t+ b5 X4 U  t( `) dthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
5 V2 H9 r' q$ \Conclusion        X        =        1729.8               
( ?/ A1 k8 q- i, y( \1 G                                       
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