How much is a 20 year old savings bond worth


Asked by admin @ in Mathematics viewed by 278 People


Elena's aunt bought her a $150 savings bond when she was born. When Elena is 20 year old, the bond will have earned 105% in interest. How much will the bond be worth when Elena is 20 years old

Answered by admin @



Answer:  $307.5          

Step-by-step explanation:

Here, Elena's aunt bought her a $150 savings bond when she was born.

That is, the initial amount = $150

And, When Elena is 20 year old, the bond will have earned 105% in interest.

Therefore, The bond be worth when Elena is 20 years old,A= 150+\frac{150\times105}{100}

⇒A= $307.5

Therefore, after 20 years the the bond worth $307.5.



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