作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
+ @$ Y$ F$ [. L* c/ E& k; Qmonths respectively from the date of the agreement. With each payment, Louise
  m# {+ p7 {8 Hagreed 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
- E! S0 U. O5 Zsingle payment four months from now. What payment should Thelma be willing to
+ F6 f# l0 K$ \1 L' E- waccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
; P' c7 y, G' R! g                Month 0        Mon. 8                  Mon. 12
2 L, G( w1 v# F8 g$ Z* \* OCash 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]
8 d  _/ |! @0 f' N7 a; [7 j                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

7 H+ j8 k2 C# F3 jthese 3 should add up to 0, i.e. NPV at month 0 is 0.
2 K; V& A+ L: F* E                                       
- w0 S6 E8 P7 K* U; lConclusion        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