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
9 x4 \# l* x4 O  Magreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
! _: B  z5 ], T& V4 n( Bfailed 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                                       
/ j3 V/ l8 v. D9 ]6 W                Month 0        Mon. 8                  Mon. 12
1 c5 Y, ^9 r! z# ^$ x2 i9 J2 }Cash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
# Q0 X% M: k7 q" ~+ YPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
; y1 e+ [  g) F9 A$ X) P! \7 c  i
$ G9 U" R+ x* T7 s" Vthese 3 should add up to 0, i.e. NPV at month 0 is 0.
& h" m+ l: |  R' @- E: s                                       
9 \( q  d* X0 o0 r1 i$ Q& ?Conclusion        X        =        1729.8               
! v3 G1 d. O3 {$ V/ F                                       
7 ]- o+ @9 h! g$ o* eSo, 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