作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
failed to make the first payment and now wishes to settle her obligations with a
1 N" ^9 L3 ~: |3 i$ H8 [" Ksingle payment four months from now. What payment should Thelma be willing to
- ], j  V. l# O8 H$ Naccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
* r0 ~5 J- x$ j. P  ?& N( I                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               
: w) Q$ L" b3 H2 `5 K7 F' \PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
% b3 E* m/ x6 z( y                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
% a4 {: M, n" c; R2 z+ R% s
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
  Y) e& O+ }# TConclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
8 x. O$ ^  Y. M7 \3 N

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