Can someone tell me what type of function this would be?
Buy a US Savings Bond.
Buy at $1000 now. When cashed in 5 years later, the amount will be $1267. You do not receive any interest unless the money remains in the savings bond for 5 years, and after 5 years it will not collect any more interest.
Buy a US Savings Bond.
Buy at $1000 now. When cashed in 5 years later, the amount will be $1267. You do not receive any interest unless the money remains in the savings bond for 5 years, and after 5 years it will not collect any more interest.
1 Answer
Feb 14, 2018
The question ought to be what is the rate..
Explanation:
But nevertheless the function will be;
Where;
And since interest only take effect on the fifth year and not the years before or the years after..
Therefore
