作业求助

linchan

Eight months ago, Louise agreed to pay Thelma $750 and $950, six and twelve
months respectively from the date of the agreement. With each payment, Louise
9 Q$ e+ W$ i, D; B! B6 Fagreed to pay interest at the rate of 9.5% pa from the date of the agreement. Louise
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
: a* h; q* o2 ~; ?accept if money can earn 7.75%? （最好有过程）

littledognancy

Suppose Intr is annually compounded                                       
. \! @1 m0 B0 u9 x$ \- c' y2 K                Month 0        Mon. 8                  Mon. 12
% z7 B1 R' p/ D6 t. oCash Principal        X        -750                  -950       
- F6 b% X& m* W" ]1 ~- L9 ]) v+ [/ fCash Intr (Should Pay)                -X*9.5%*8/12          -(X-750)*9.5%*4/12               
+ o$ p5 |: D8 P, _0 IPV 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)

0 b% w8 ^0 w6 X/ Sthese 3 should add up to 0, i.e. NPV at month 0 is 0.
                                       
Conclusion        X        =        1729.8               
# x9 E& i) J- D! U                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
: H" F7 T% d8 S" w: `9 n

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