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
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
$ ^( a0 A# Y+ f% S# z! b+ tfailed to make the first payment and now wishes to settle her obligations with a
( i* R) u# L. Q$ ysingle payment four months from now. What payment should Thelma be willing to
% {7 s; w; z* Z1 [: U  F/ j% Caccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
* I$ V/ _2 U; {0 x! s  D) `! ^                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]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
% P$ y% p$ _4 R' ~$ H" O, Q% F
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
7 F% a" P; b' D1 r# UConclusion        X        =        1729.8               
6 [+ g4 ?3 `. e                                       
. X& @* E4 W- Y) Z. ^8 i4 J' iSo, 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