作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
# @1 Y% ]7 J: _) d! |months respectively from the date of the agreement. With each payment, Louise
agreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
3 k) u. d; m; I. Rfailed to make the first payment and now wishes to settle her obligations with a
) m) {$ [: S6 r# S" u4 M$ Gsingle 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
$ a% s2 a! b3 I6 ?Cash Principal        X        -750                  -950       
( J* d* x, y$ v% q2 bCash 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]
                                                 /(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.
                                       
; h/ V! I1 ^7 F& `6 n' Q7 Y. P( jConclusion        X        =        1729.8               
$ G+ R' q% A. @! G( w                                       
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