作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
& g. R/ S* u8 f' ], V2 _months respectively from the date of the agreement. With each payment, Louise
4 M1 P) g9 q' n  zagreed 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
* a7 i% e7 z/ k) c3 p; g+ E+ {; usingle payment four months from now. What payment should Thelma be willing to
4 Q7 b" c% J3 s% W) Aaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
8 @/ S2 ]/ w6 y% |                Month 0        Mon. 8                  Mon. 12
+ _; v5 V3 g2 i5 Z, w; mCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
* i& e1 `* V" q7 p6 s) gPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
' G9 M+ m" j0 i6 Q" M' f& E                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

these 3 should add up to 0, i.e. NPV at month 0 is 0.
+ k; N4 G( v5 z7 M6 v% ?: c                                       
% a+ i3 e" r2 m! K( q/ H' Z6 C( M- mConclusion        X        =        1729.8               
5 t) b4 M* D: h* Z0 {$ T1 f                                       
6 M& H$ d& e$ @7 o+ P; MSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
" d* l' q; h: z5 q+ Y0 k2 d

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