How much is a savings bond worth after 18 years

Asked by admin @ in Mathematics viewed by 265 People

Elenas aunt bought her a $150 savings bond when she was born.When elena is 20 years old,yhe 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:

We have been given that Elena's aunt bought her a $150 savings bond when she was born.When Elena is 20 years old, the bond will have earned 105% in interest.  

To find bond's value after 20 years we will add 105% of 150 to 150.

\text{Bond's value after 20 years}=150+(\frac{105}{100}\times 150)

\text{Bond's value after 20 years}=150+(1.05\times 150)

\text{Bond's value after 20 years}=150+157.5

\text{Bond's value after 20 years}=307.5

Therefore, the bond will be worth $307.5, when Elena will be 20 years old.


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