Certificate A pays $2500 in three months and another $2500 in six months. Certificate B pays $2500 in four months and another $2500 in seven months. If the current rate of return required on this type of investment certificate is 4.70%, determine the current value of each of the certificates. (Do not round intermediate calculations and round your final answers to 2 decimal places.) Value of certificate A 24 Value of certificate B

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Certificate A pays $2500 in three months and another $2500 in six months. Certificate B pays $2500 in four months and
another $2500 in seven months. If the current rate of return required on this type of investment certificate is 4.70%, determine
the current value of each of the certificates. (Do not round intermediate calculations and round your final answers to 2
decimal places.)
Value of certificate A
24
Value of certificate B
Transcribed Image Text:Certificate A pays $2500 in three months and another $2500 in six months. Certificate B pays $2500 in four months and another $2500 in seven months. If the current rate of return required on this type of investment certificate is 4.70%, determine the current value of each of the certificates. (Do not round intermediate calculations and round your final answers to 2 decimal places.) Value of certificate A 24 Value of certificate B
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