作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
/ e4 T$ A4 x( d1 Yagreed 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
$ K* E% F/ s/ Uaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
+ j0 W* y, s' l% S8 N; D5 JCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
. L9 l! z# J2 [5 T9 `2 B$ TPV 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)

these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
+ ^) A7 S9 F* o                                       
2 E$ c+ u4 Q* P8 z) Z) f0 sSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
- a0 F! B% P' m6 W

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