作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
* N* V2 V4 S7 t& `4 c* K3 Amonths respectively from the date of the agreement. With each payment, Louise
, |( ]. F5 f- Y& {7 zagreed 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
4 A( s6 a2 c" G5 e2 y9 T0 Hsingle 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                                       
                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               
PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
6 N8 ~$ P* L1 `8 E                                                 /(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.
4 |% F7 @1 l" t9 O' V8 H                                       
Conclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
. d9 g% X4 ^4 K

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