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Lucas bought a government savings bond for $1,100. He was told that when the bond can be cashed in five years that he would get $1444.48. If the interest on the bond is compounded annually, what is the
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Lucas bought a government savings bond for $1,100. He was told that when the bond can be

cashed in five years that he would get $1444.48. If the interest on the bond is compounded
annually, what is the interest rate on the bond? (Hint: Use graphing function)

User ZenDD
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1 Answer

4 votes

Answer:

r = -0.0056 --> 5.6%

Explanation:

Lucas bought a government savings bond for $1,100. He was told that when the bond-example-1
User Amza
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