作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
4 t  d$ m; F" n1 n5 }1 G0 tmonths respectively from the date of the agreement. With each payment, Louise
agreed 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
& A  F% e) M0 r/ Xsingle payment four months from now. What payment should Thelma be willing to
- }; ]! t- E% U* B5 Y$ zaccept 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       
6 R- g. E' b% e: {0 t9 R( KCash 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]
+ |9 }2 ]$ w. j3 u                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

2 g& V* w6 s& a. o  ^these 3 should add up to 0, i.e. NPV at month 0 is 0.
8 b! o7 Y3 g) c. E# X                                       
* L6 R2 D6 K& j1 E9 R  TConclusion        X        =        1729.8               
( L. f  s. p' ~& u9 i: L7 o                                       
+ W' Q) h4 V* YSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
! S' X. u) V6 y" C: c' p

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