作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
5 {. q$ P# ^8 t$ D! Tmonths respectively from the date of the agreement. With each payment, Louise
& K+ I) w( W7 ^% O# a1 A# sagreed 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
3 W9 }4 ]+ X: |accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
, a/ R9 f7 u3 ]: j# W8 X0 s! aCash Principal        X        -750                  -950       
2 [! n( t8 p& ^: d/ `2 ?Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
5 J- X! U: F' PPV 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)
8 S8 s! Q1 m0 G3 ^  n% C; ~" w
these 3 should add up to 0, i.e. NPV at month 0 is 0.
, C+ D% o' l: i7 Z% u7 i                                       
( ~7 a& _( G: F8 m2 S% G& D$ c7 PConclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
% F; _. @' a0 q. S6 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