作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
4 o/ r) n. g+ Smonths respectively from the date of the agreement. With each payment, Louise
7 I9 u9 l  M, ?6 X3 f. V1 ~agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
7 h% u9 L: o( c& Zfailed to make the first payment and now wishes to settle her obligations with a
- x) ~+ q/ B3 D( \1 e5 f/ zsingle payment four months from now. What payment should Thelma be willing to
% ]( j1 O. h5 Z9 {+ Vaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
8 @  \: q% }: E                Month 0        Mon. 8                  Mon. 12
$ D8 Q% B9 x( A/ VCash 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]
                                                 /(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.
                                       
( B8 N# P" w* ?8 n: pConclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
" T0 E- b, s9 B$ z% H' P

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