作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
: I2 r! U" w! Jmonths respectively from the date of the agreement. With each payment, Louise
( G: ~. T0 _8 R4 j# [- Y" {2 magreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
% [( I+ D3 j( b# `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
accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
# y5 E3 q* i; K1 c) v4 G                Month 0        Mon. 8                  Mon. 12
0 q0 l. T  |+ TCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
" s+ r. G: `8 \* s$ TPV 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.
                                       
" L* k2 v3 n( @  I. }Conclusion        X        =        1729.8               
+ l4 A8 Z* m0 Y$ N                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
6 p# ?0 Q- }, T; b! P5 }9 }

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