作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
& P8 M3 @! o$ f! E1 }/ v( ]' `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
single payment four months from now. What payment should Thelma be willing to
' G" M2 |) p# oaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
' F/ E( [, Q; V- b  KCash 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]
& L; g+ D7 ]$ {( {' s* J8 h, H) C                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
+ U3 t& B7 B$ \- O' b" h
these 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
# ^/ u$ n! \) \. HConclusion        X        =        1729.8               
8 V+ U, f) \1 H( c4 f  \                                       
So, 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