Question
In 1952 your grandfather left your mother a $5,000 U.S. government bond, to be used for your education. The annual interest rate was 1.9%. The
In 1952 your grandfather left your mother a $5,000 U.S. government bond, to be used for your education. The annual interest rate was 1.9%. The annual interest was left to accumulate with the bond according to compound interest. Then your mother redeemed (cashed in) the bond. What were the cash proceeds many years later, in 2020?
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Accounting Information Systems Controls and Processes
Authors: Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland
3rd edition
1119329566, 1119329565, 1119386179, 1119302110, 9781119302117 , 978-1119329565
