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
" V( _" Y; C0 g5 ?! yagreed 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
; I2 ^+ Q: m5 k8 G/ c, p( fsingle payment four months from now. What payment should Thelma be willing to
  R5 A3 T4 J6 n4 }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       
6 T3 ~3 T& }, f! L4 f+ oCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
' }) X$ _: D- u  ZPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
% Q2 p3 c6 _1 E# z                                                 /(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.
                                       
% E$ T: p) ~: y0 f) DConclusion        X        =        1729.8               
                                       
" b* h9 t- v/ T9 F& [So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
6 t+ z' Z; P" t$ ]8 X* g

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