作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
$ ]& I& Q6 p" f# `/ e+ ^7 zmonths respectively from the date of the agreement. With each payment, Louise
' n/ \6 K7 a0 _agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
# u3 O( I9 y, d, cfailed 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
$ d/ [4 n7 E" raccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
: Z" Q2 g' C# BCash Principal        X        -750                  -950       
4 H" v. c% D$ D9 cCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
/ S, |. y" `& EPV 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)

! a6 ^( G- @3 Y" |these 3 should add up to 0, i.e. NPV at month 0 is 0.
9 O) Q; [! t# R% a                                       
Conclusion        X        =        1729.8               
% ^" z3 v+ d6 u: {, r                                       
  m/ a: L$ J1 c& L  ]  g# R0 ASo, 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