作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
7 M1 [& X3 Z5 c! I2 z4 b2 Zmonths respectively from the date of the agreement. With each payment, Louise
6 g* {- K, s' j! d- E, Hagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
" [2 T: p+ ]/ [4 V  {failed to make the first payment and now wishes to settle her obligations with a
  {6 Y, e' y2 \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
Cash Principal        X        -750                  -950       
Cash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
/ W  n" R+ T7 q8 WPV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
! B" A! ^& W! N* ^' T0 R: k                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

* m# j4 H* C) P( Jthese 3 should add up to 0, i.e. NPV at month 0 is 0.
- u7 x: a4 R" t9 K! l: J0 G- d1 Z- f                                       
Conclusion        X        =        1729.8               
                                       
& u2 i1 ?& Q% }, c8 eSo, 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