麻烦帮看一道简单的计算题

求解EAR和APR 甲乙两家银行提供30年期、金额为220 000美元、利率为5.5%的贷款，贷款申请费用是3500美元。如果贷款申请案没有通过，那么甲银行的申请费可以退还，乙银行则不退还申请费。现行法规规定；若申请手续费能被退还，那么申请被拒绝时，在计算APR时应包括退还的手续费；若手续费不退还，那么计算APR是则不包括手续费。这两家银行提供的贷款EAR是多少？APR呢？

公司金融第十版精简版的一道计算题，不知道怎么做，希望大家指教一下谢谢了

First we will find the APR and EAR for the loan with the refundable fee. Remember, we need to use the actual cash flows of the loan to find the interest rate. With the $3,500 application fee, you will need to borrow $223,500 to have $220,000 after deducting the fee. Solving for the payment under these circumstances, we get:
 
        PVA = $223,500 = C {[1 – 1/(1.004583)360]/.004583} where .004583 = .055/12
        C = $1,269.01
 
We can now use this amount in the PVA equation with the original amount we wished to borrow, $220,000. Solving for r, we find:
 
        PVA = $220,000 = $1,269.01[{1 – [1 / (1 + r)]360}/ r]        
        Solving for r with a spreadsheet, on a financial calculator, or by trial and error, gives:
 
         r = 0.4703% per month 
        APR = 12(0.4703%) = 5.64%  
        EAR = (1 + .004703)12 – 1 = 5.79% 
        With the nonrefundable fee, the APR of the loan is simply the quoted APR since the fee is not         considered part of the loan. So:
 
        APR = 5.50%       
        EAR = [1 + (.055/12)]12 – 1 = 5.64%
 
OR

223,500 = PV, N=12x30,
I/Y = 5.5/12, CPT PMT = 1269.01





PV = 220,000, PMT = -1269.01,
N = 360, CPT I/Y = .4703 x 12 =
5.64%

PV = -1, I/Y = 5.64/12, N=12,
CPT FV = 1.05788 – 1 = 5.79%


PV = -1, I/Y = 5.5/12, N=12
CPT FV = 1.0564-1 = 5.64%

Which writer of Corporate Finance?

cheeko 发表于 2016-4-19 17:34
Which writer of Corporate Finance?

斯蒂芬a罗斯的

司代拉 发表于 2016-4-19 17:35
斯蒂芬a罗斯的

Which chapter and which question number?

cheeko 发表于 2016-4-19 17:39
Which chapter and which question number?

第六章练习题的第64题，这是精简版的，第十版

司代拉 发表于 2016-4-19 17:59
第六章练习题的第64题，这是精简版的，第十版

no chapter number?

dgrtgtdrgfd

cheeko 发表于 2016-4-19 18:04
no chapter number?

第六章

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