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 D. }+ \( J; t, ]4 q7 H6 M3 u0 Cagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
1 `5 ^) S; b" D* Ofailed 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                                       
# g7 o4 d' Q9 T2 f3 W1 A* e                Month 0        Mon. 8                  Mon. 12
Cash 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]
5 q& y5 U& F0 P# X* d7 Q$ o                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
. a8 Z+ a9 ^+ h& G; ~- ]; I
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
                                       
  W0 E  f5 F" BSo, 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