Question

Elana'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. How much will the bond be worth when Elena is 20 years old

Answer 1

$397.99

Explanation:

105*100 = 1.05

1.05^20 = 2.65329770514

2.65329770514* 150 = 397.99