2. Elena's aunt bought her a $150 savings bond when she was born. When Elena is 20years old, the bond will have earned 105% in interest. How much will the bond beworth when Elena is 20 years old?

The worth of the bond after 20 years will be the cost of the bond plus the interest earned on the…

Answered: 2. Elena's aunt bought her a $150…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2. 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?