Certificate A pays $1000 in four months and another $1000 in eight months. Certificate B pays $1000
Question:
Certificate A pays $1000 in four months and another $1000 in eight months. Certificate B pays $1000 in five months and another $1000 in nine months. If the current rate of return required on this type of investment certificate is 2.75%, determine the current value of each of the certificates. Give an explanation for the lower value of B.
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Since the payments from B are received a month after the respect...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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