作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
0 M6 K7 S- C: R  N1 x( Tagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
* F/ d% [/ d$ f, B% Efailed to make the first payment and now wishes to settle her obligations with a
- b, j$ e  `. J4 m: x0 osingle 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
Cash Principal        X        -750                  -950       
$ {6 I  u/ ~/ RCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
  ~) D; H$ ?' w6 m. [2 BPV 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)

0 ]  Q# t6 N# Bthese 3 should add up to 0, i.e. NPV at month 0 is 0.
7 Q9 t" ]7 F8 H                                       
1 F( L4 B% ~( w2 ]3 `Conclusion        X        =        1729.8               
                                       
( F4 }$ d' i$ q) l% D/ H  \So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
+ u& s! R, e$ l! h6 p

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