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
single payment four months from now. What payment should Thelma be willing to
# a/ T6 }/ u. W6 z. |accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
" y7 u' c( J6 ~2 o* d7 a0 mCash Principal        X        -750                  -950       
Cash 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]
                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
9 E9 R" l; f1 I: U7 ]  i
( ]  [9 v: I, y& A% V8 I4 d- @' Qthese 3 should add up to 0, i.e. NPV at month 0 is 0.
4 P+ N. J6 }3 B5 m: h8 S+ C                                       
Conclusion        X        =        1729.8               
' f- h; p' e* A* h7 u) Q; i+ O                                       
9 H/ ]% Y1 l5 z; C: |So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
* @' V, c: E8 O4 L& f5 q  X

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