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
& Q8 r/ }# Q8 w& |  Magreed 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
accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
8 ]& U) W! d- z6 t                Month 0        Mon. 8                  Mon. 12
Cash Principal        X        -750                  -950       
2 V- g6 I6 S; X9 @* ZCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
  G  o$ O  T# jPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
% s" u2 q' E& u" a* f' V4 l                                                 /(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.
1 @1 {" z* u/ l, A                                       
' V/ K+ {2 e3 y7 CConclusion        X        =        1729.8               
: ^* ~0 M. e' \8 B$ C0 r                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
0 w0 L" K9 H$ M; e0 x5 z, [

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