Question

PLEASE HELP! 13 POINTS

jacks mom purchased a savings bond for jack. the value of the savings bond increases by 5% each year. one year after it was purchased, the value of the savings bond was $210. find the value of the bond when jacks mom purchased it.

Answer 1

The value of the bond was $200. Assuming the increase was 5% of the initial value. We can estimate that 210 is 105% of the initial value. Set up the equation 105/100 X 210/i. And you should get 200.