Question

Tyler's grandma purchased a savings bond for him when he was born. The bond was bought for $500.00. The value of the savings bond increases by 5% a year. Tyler's grandma wants Tyler to use it for college, so he is not allowed to touch it until he is 18.

How much money will Tyler have when he is 18

Answer 1

Answer: 950 dollars

Explanation:

5% of 500 dollars is 25 dollars, so since 5% is 25 dollars, multiply that by how many years he can have it (18). So 18 * 25 = 450. 450 added to the starting 500 dollars is 950 dollars. Your welcome, I'm new so glad I could help.