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
  f/ q7 c5 Q7 C) z6 G/ S; Pagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
+ ~3 O5 @) A/ e" c; v; wfailed to make the first payment and now wishes to settle her obligations with a
5 ^# V: ~: n5 J: ~+ @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                                       
8 ?' Z5 [8 @: q+ e! ?                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)
) V/ M4 l* Z. }  ]& Q( A; A! i
; C# b) z" e) ?these 3 should add up to 0, i.e. NPV at month 0 is 0.
7 {! J" \) a4 b% a3 b  {7 U                                       
Conclusion        X        =        1729.8               
. x1 _/ [; ^4 D& D                                       
  ?9 |6 s. n( c0 qSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
0 L; }" v3 W8 h+ D! g% `

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