Question

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

Answer 1

The worth of the bond is $307.50.

What is the worth of the bond?

The worth of the bond is the sum of the bond when it was bought and the interest earned on the bond.

Worth of the bond = interest rate + value when the bond was bought

Interest = 105% x $150

1.05 x $150 = $157.70

Worth of the bond = $157.70 + $150 = $307.50

To learn more about interest, please check: brainly.com/question/26164549

Answer 2

Answer: $307.5
Step-by-step explanation:
Here, Elena's aunt bought her a $150 savings
bond when she was born.
That is, the initial amount = $150
And, When Elena is 20 year old, the bond will
have earned 105% in interest.
Therefore, The bond be worth when Elena is
20 years old,A = 150 + 150x105
#A= $307.5
Therefore, after 20 years the the bond
worth $307.5.

(Hope this helped!!)