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
+ ]( |, h2 J: ]# k" t8 n! x- Fagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
- I  _. D( H: I! S8 t4 w! |3 f1 [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
accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
                Month 0        Mon. 8                  Mon. 12
# F. g) l3 d, @Cash 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]
# x* |8 a% Z# Y' s' Q, m; O                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

- ]1 w! O8 U8 ]# b) Kthese 3 should add up to 0, i.e. NPV at month 0 is 0.
9 a) y" N* L! I6 _0 N* w" N                                       
& B7 t0 K# L. H* w/ d* HConclusion        X        =        1729.8               
3 E9 `6 [5 v3 `                                       
( L7 N' s9 A+ JSo, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
, [8 a0 d- o( @& u4 r) ]  u

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