作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
4 ]; M+ w1 i; q" s8 x" vmonths 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
5 `# D& P3 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                                       
: y$ t) y$ v- c& k                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               
3 ~9 N" r/ z+ m2 H: |" ^8 t4 sPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
- T; D$ V+ a8 u& {! A                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
/ T. m( _3 P8 z  i' Z
these 3 should add up to 0, i.e. NPV at month 0 is 0.
% [0 @# v! ]) D3 o+ n                                       
3 R" Z" }2 Z7 ZConclusion        X        =        1729.8               
, w2 s& S% y  D# B( i                                       
# G5 _9 P5 C4 K! g5 n% u3 B" S! W6 D2 zSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
, j' Q( Q2 ~! y( r; N

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