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
+ o) l: v4 y) }agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
" W; [7 U, N( _. nfailed 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
. y! @+ @7 N( d+ z) W) I1 l  paccept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
+ m' ~' U0 {, ]# K. [$ q3 b( ?7 o% }) m4 F                Month 0        Mon. 8                  Mon. 12
; g- C4 |3 S& @0 I: `Cash Principal        X        -750                  -950       
. X3 T( g( g- k1 _' F8 W' i- ^Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
  e% p; y6 O0 CPV 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)

these 3 should add up to 0, i.e. NPV at month 0 is 0.
$ a- P. A! u3 n. G, d, Q3 ^                                       
Conclusion        X        =        1729.8               
0 q, g) r% X- a0 _                                       
( R5 q. a3 H1 K. y. Y2 b9 h: |So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
; a: z6 D" ^7 N$ ~2 G' b

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