作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
0 f+ c$ m* U( x# N  Amonths respectively from the date of the agreement. With each payment, Louise
, a& ^6 ~0 x) v* ^3 R! hagreed 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
* T4 n% M! u+ O) F8 gaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
2 S3 l# r, M$ a+ l  o/ eCash 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]
, X/ M2 P* S/ D5 _. A7 H                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

- J+ t. y# H% B. ~) ?these 3 should add up to 0, i.e. NPV at month 0 is 0.
0 {/ k9 f  `4 O3 i/ S9 D  Y                                       
Conclusion        X        =        1729.8               
                                       
& D6 M9 e0 L  s5 z7 ASo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
# {" @4 Y4 P5 X  p5 e

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