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@ See page 204 14 Question (1 point) A family member buys you a savings bond for your birthday. You would have liked to have
@ See page 204 14 Question (1 point) A family member buys you a savings bond for your birthday. You would have liked to have just received the cash. The bond pays $227.00 for each of the next three years, at which time the bond is retired and pays its face value of $2,970.00. 1st attempt Part 1 (0.3 point) See Hint How much cash is the savings bond worth now at an interest rate of 10.00%? $ Part 2 (0.3 point) See Hint How much cash is the savings bond worth now at an interest rate of 12.00%? Part 3 (0.3 point) See Hint A savings-minded friend makes you several offers to purchase the bond. Which of the following offers should you be willing to accept? Choose one: O A. an offer of $2,727.56 for the bond when the interest rate is 10.00% O B. an offer of $2,659.20 for the bond when the interest rate is 10.00% O C. an offer of $2,727.56 for the bond when the interest rate is 12.00% O D. an offer of $2,970.00 for the bond when the interest rate is 10.00% Part 4 (0.3 point) See Hint Another family member has offered to buy you motorcycle lessons at the cost of $227.00 a year (which she doesn't have to pay until the end of each year). She says if you complete three years of lessons, she'll buy you a motorcycle which will cost $2,970.00 at the end of the three years. If you don't like this idea, she says you can just have the money she has put aside for the gift instead. If the interest rate is 10.00%, how much money did she put aside today to cover your lessons and the motorcycle? $
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