Question

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

Answer 1

Answer: 307.5

Explanation:

Answer 2

Answer: $307.5

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+(150*105)/(100)`

⇒A= $307.5

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