In an episode of the Andy Griffith Show, Mayberry resident Frank Myers almost lost his home to taxes owed. Luckily, Sheriff Andy Taylor found an old town bond that belonged to Frank. The bond's original value was $100 paying 8.5% interest compounded annually and was 100 years old. Determine the amount the town of Mayberry now owed Frank on this bond.

Question

In an episode of the Andy Griffith Show, Mayberry resident Frank Myers almost lost his home to taxes owed.  Luckily, Sheriff Andy Taylor found an old town bond that belonged to Frank.  The bond's original value was $100 paying 8.5% interest compounded annually and was 100 years old.  Determine the amount the town of Mayberry now owed Frank on this bond.

Reiny · Accepted Answer

what is 100(1.085)^100 ??

Ryan · Answer

$349,119.27

Stephanie · Answer

This episode annoys me a bit because that would be the amount if it was exactly 100 years old even though the episode clearly says it is over $100 years old. another annoying thing is that even though the show was shot in the 60s, the setting takes place in the 30s as stated by Andy Griffith in an interview. If you watch, the bond is from 1861 and if it was 100 years old then it would be 1961 not in the 1930s. so yeah, that was me over analysing a show from the 60s on an obscure website that no one will ever see

Dan · Answer

One would know the show is obviously set in the 60s by looking at Sheriff Andy’s patrol car.