作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
5 {- T& v7 ]- K+ _$ W0 ?  pmonths respectively from the date of the agreement. With each payment, Louise
/ x/ |/ x6 M! I3 ^$ A' D9 ~) l0 J- }agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
0 N8 m( N. v: B/ i0 ^' z2 tfailed 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                                       
0 z; n6 L( `" o, v/ i                Month 0        Mon. 8                  Mon. 12
% d- y$ }& g# x" LCash Principal        X        -750                  -950       
* u' E4 g0 x6 D4 g; FCash 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]
3 a) T1 P! H2 _& k1 I$ N% E                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
4 V% X/ V& i& i" H" \0 m. H
these 3 should add up to 0, i.e. NPV at month 0 is 0.
" z4 x3 l! ?0 q0 e8 s) Q9 i                                       
. K  \: t8 m" {1 J" k+ l. ~  KConclusion        X        =        1729.8               
" q, u5 j0 D5 I0 j- e# N5 v                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
) m. z8 _; q: A8 M

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