Series I bonds are perpetuities. They have a coupon payment for each class (or each year) into the indefinite future. The coupon payments are $2.

100 Series I bonds will be sold on June 28 using a Dutch Auction. You can use any money that you have earned up to and includingJune 28to bid on Series I bonds. (I have earned $109 so far)

Series I bonds will make coupon payments of $2 each on June 28, 29, 30 and July 1. On July 1, the value of the bonds to your portfolio will be the price of the bonds that day. The price will be calculated using the yield on 30-year Treasury bonds on Friday, July 1. So the value of the bonds is P = C/i, where C = 2 and i is the yield on 30-year Treasury bonds on July 1 (measured as a decimal). Please state the price that you would be willing to pay for Series I bonds and the quantity that you would like to purchase as part of the problem set. Remember that you cannot spend more than the amount in your ClassCash Ledger on June 28