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
agreed 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
; o; Z% W: i5 L! Ysingle 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                                       
0 U" n2 ^1 p3 M                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               
PV at mon 0        X        -[750+X*9.5%*8/12]          -[950+(X-750)*9.5%*4/12]
; {6 B3 \- F' o' k  h8 R2 |                                                 /(1+7.75%*8/12)           /(1+7.75%*12/12)

7 E" a# e' x! ?3 Athese 3 should add up to 0, i.e. NPV at month 0 is 0.
# u) |, o2 o" H$ z% I                                       
4 a/ i, W$ g# S- O6 A" D( d! H0 gConclusion        X        =        1729.8               
5 ^( v3 \( i- v$ p0 }: x9 _- E                                       
So, Initial borrowing was        1730        *(1+7.5%)        1859.5        approx.         $1,860
. Z9 f! G3 i8 c! K  I+ P* W

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