作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
4 Z! r: O+ R& ^" Pmonths respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
failed to make the first payment and now wishes to settle her obligations with a
6 Z' J# t8 C: B$ R2 x% f! @$ ?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                                       
                Month 0        Mon. 8                  Mon. 12
4 m1 q: \/ J8 O# CCash Principal        X        -750                  -950       
6 C! @7 v9 Q0 Q* ^$ v7 jCash 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]
  B$ ]( _! X8 |4 u2 k                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
5 ~0 G/ T: V6 P0 v
/ A6 E, B1 M% ^! h: Jthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
9 R3 f9 p# b" I3 Q  P5 @Conclusion        X        =        1729.8               
. G1 y- p$ d5 C* d9 \+ t                                       
' e6 }8 I1 G7 c+ fSo, 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