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?
Step 1
Step 1: First, we need to understand that 105% interest means that the bond will increase by 105% of its original value. Show more…
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