作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
; C1 E6 F. t. d" imonths respectively from the date of the agreement. With each payment, Louise
3 K& m5 |! G: M+ S& O2 P: 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
accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
& l/ @/ |3 E* D4 [( [+ D4 N                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
0 h' R  k( B: [8 j. a+ HCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
  n. X- b2 H% @9 L" }PV 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)
, o8 c8 j) e- d, D
these 3 should add up to 0, i.e. NPV at month 0 is 0.
/ x2 H$ F, U8 `5 L, `                                       
5 y4 ]5 h" v3 ~0 z3 A/ ?7 x) SConclusion        X        =        1729.8               
7 w' f% q) M$ y5 \                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
/ B3 D( t" A1 \8 {0 n8 q0 O" t: E

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