作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
# B8 C8 I( c3 r4 N5 i% o- dmonths respectively from the date of the agreement. With each payment, Louise
* z  C# t( V; l5 }2 k" j& Eagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
) \) V- P! K6 r7 U$ \: K) P0 V' Cfailed to make the first payment and now wishes to settle her obligations with a
/ {' X) t1 S3 F* L. |" F! Asingle payment four months from now. What payment should Thelma be willing to
! J# r& c& u; Eaccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
' {. D7 B$ n7 m3 U" VCash 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)
. W  w- g! S' ^. G
these 3 should add up to 0, i.e. NPV at month 0 is 0.
1 f2 r, o9 L2 O  W                                       
Conclusion        X        =        1729.8               
8 E. t' S$ |) y& Q* W! D                                       
4 e9 ~: P) e6 A! g: Q- \So, 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