作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
7 L+ H3 ~- J. f0 p) V8 Amonths respectively from the date of the agreement. With each payment, Louise
* t% B1 O- U  B8 m5 yagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
. M1 v5 h9 h7 R: @failed to make the first payment and now wishes to settle her obligations with a
- W6 H) p* d4 I4 _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                                       
  ~6 v" {7 A6 J8 I( n                Month 0        Mon. 8                  Mon. 12
7 d7 ?+ o/ M5 }' m, z! MCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
+ Z8 N1 A3 q$ iPV 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)

these 3 should add up to 0, i.e. NPV at month 0 is 0.
; H" }2 p. M9 l0 |( O                                       
; r, n, m! ]+ D% ]0 j! n- y8 kConclusion        X        =        1729.8               
                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
& k4 K% i8 T" v4 i9 x" |2 L

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