作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
2 ]. O, w; I# N5 x# K; ^$ ]agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
: t* W; Y( y# A# jfailed to make the first payment and now wishes to settle her obligations with a
$ p3 U/ w& ~( g( G( x  k2 |3 z- qsingle 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                                       
+ i" ~6 c( v1 b7 N                Month 0        Mon. 8                  Mon. 12
5 v+ d! q6 E6 ?6 p. ]1 z/ X& ^* bCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
; C/ g0 W- O$ L3 d# g4 k% HPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
5 d5 C( ?4 ^8 D) v# r& P                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
( I0 w& v% E! c9 e! t* ]
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
0 E% y8 P8 e, V5 F! h( c& O+ i0 q5 Q0 o                                       
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