Ask a New Question

Question

Suppose you buy a $1395 savings bond that pays 4.3% annual simple interest. Determine the value of the bond after 7 years.
13 years ago

Answers

Henry
P = Po + Po*r*t.

Po = $1395.

r = 4.3% / 100% = 0.043.

t = 7 years.

Plug the above values into the given Eq.

Answer: $1814.90.
13 years ago

Related Questions

Suppose that S(savings) = $4 billion when Real GDP = $200 billion & S(savings) = $104 billion when R... If you put $ 6,000 in a savings account that pays interest at the rate of 4 percent, compounded annu... Suppose you put in a savings account at an APR of 6% compounded monthly. Fill in the table below ro... You have $220 in your savings account. You take $35 from your account each week for four weeks. H... Suppose you buy a $9000 savings bond that pays 4.75% annual simple interest. When you cash in the b... 21 more than raj's savings is 63 use this variable to to represent raj's savings If you put $202 in a savings account that pays 6% compounded annually for nine years what is the amo... Kim put $8,000.00 in a savings account that offers 6% interest compounded annually. Kim makes no add... According to the 10% savings rule that automatically adjusts to your earnings, how much would you sa... If you put $10,000 in a savings account for 5 years that pays simple interest of 2.75% annually, whi...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use