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
+ \2 J: i: x  `- q& e4 ~3 Jagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
; |; u3 v1 b- H/ L' E" [3 r: n/ pfailed to make the first payment and now wishes to settle her obligations with a
: {7 a9 x1 M/ b! u( \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                                       
                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
- p3 t) U3 V! ]5 aCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
: @0 l- q. R' D: l& `PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
2 g6 _9 c# t3 J% h5 x2 l# k                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
. X; d$ N/ _8 p0 @) t/ ]0 N
  y' T  s7 d6 N- v2 R  Dthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
( F& X% o9 J! G" k+ f* m                                       
$ B7 E) i7 z. O, Y' X2 k" k5 N4 w! q0 H7 pSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
; W2 Z  W6 I7 l% t0 k

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