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
/ h  K+ f6 e; saccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
8 e# P0 r; G; |                Month 0        Mon. 8                  Mon. 12
! u+ L8 n0 n" Z0 C6 A; F8 v8 r2 P4 q  Y: PCash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
2 U" n+ g; G$ [0 i. K$ ]* s# APV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
8 k4 q. T0 v" N2 C* H4 _                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)
4 O) W- T/ j+ Z8 j0 {
these 3 should add up to 0, i.e. NPV at month 0 is 0.
* T, c! H, X: y* n9 a+ Q                                       
Conclusion        X        =        1729.8               
                                       
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