Question

Elenas aunt bought her a $150 savings bond when she was born.When elena is 20 years old,yhe 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.

Step-by-step explanation:

We have been given that Elena'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.  

To find bond's value after 20 years we will add 105% of 150 to 150.

$\text{Bond's value after 20 years}=150+(\frac{105}{100}\times 150)$

$\text{Bond's value after 20 years}=150+(1.05\times 150)$

$\text{Bond's value after 20 years}=150+157.5$

$\text{Bond's value after 20 years}=307.5$

Therefore, the bond will be worth $307.5, when Elena will be 20 years old.