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
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
( r9 I8 b8 v1 e% G) D1 S& N! W* bsingle payment four months from now. What payment should Thelma be willing to
* W0 f. ^" v: qaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
- K2 y% Q. s6 t- D" r# ?. W# N! hCash Principal        X        -750                  -950       
" r' @  r: [/ S7 @4 R. `9 wCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
2 i" T, a2 @: ^) w' CPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
9 a9 @8 |! X' \                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
3 S$ f, G8 w9 z! s
these 3 should add up to 0, i.e. NPV at month 0 is 0.
; F( A  G8 {2 l! I1 F                                       
  g, N! E0 i& s0 V2 lConclusion        X        =        1729.8               
/ f# m9 M2 \) r; z; s) K                                       
. k; D3 A3 r8 r9 n9 U" G' XSo, 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