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
6 m. @% M: w, E; Z" @1 p) Hagreed 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
$ h' P+ m3 [, E2 ~: Y2 x! S3 [! naccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
5 w- m7 R+ y5 b; t( C                Month 0        Mon. 8                  Mon. 12
- X1 X2 i1 C9 CCash 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]
, V# D/ ~/ x: M- F! [2 d                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

$ a: u' H5 i3 j" O8 G& dthese 3 should add up to 0, i.e. NPV at month 0 is 0.
# n- ~4 p: y0 U) ~7 L6 v& k                                       
Conclusion        X        =        1729.8               
0 v$ g* l- A+ W5 ?' K                                       
% @; k7 j( A( J7 D2 VSo, 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