Answer:
The Amount after 18 years is $66,942,391.5
Step-by-step explanation:
Given as :
The principal invested in saving bond = p = $150
The Time period for the bond = t = 18 years
The rate of interest applied on bond = 106%
Let The Amount after 18 years = $A
<u>Now, From compound interest</u>
Amount = Principal ×
Or, A = p ×
Or, A = $150 ×
Or, A = $150 ×
Or, A = $150 × 446,282.61
∴ A = $66,942,391.5
So,The Amount after 18 years = A = $66,942,391.5
Hence,The Amount after 18 years is $66,942,391.5 Answer