作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
6 a. a- q( H& Z" x$ g  M2 x3 Pagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
( Q4 {" f8 I% _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
- R, R) Y% [* G+ ]! saccept 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       
0 d# k6 F& ~- d; I3 G% HCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
8 Q3 r- p( e/ {/ mPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
6 m2 R7 |6 @, M$ Z2 _2 Y, r/ c5 c                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

" T4 Y( ~( U8 J' M% r4 C' Dthese 3 should add up to 0, i.e. NPV at month 0 is 0.
9 f0 u& b) n! p9 M6 k                                       
  B3 [/ r9 v* ]6 o1 {5 `1 g" X1 AConclusion        X        =        1729.8               
7 r0 J2 K# y( v# L                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
; e  Q2 ]& T( K$ M" a0 q* v

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