The US government sells 2 types of savings bonds. One is called a series EE bond and has a fixed rate. The other is called an I bond - the / stands for inflation - and the rate adjusts based on inflation. These are both zero-coupon bonds and are different from other bonds because they do not have a "face value"/"par value". This is because investors can purchase the bonds for any amount between $25 and $10,000 so the redemption value (future value) of the bond depends on the dollar amount invested and the interest rate. Interest on these bonds compounds semiannually. (More information on US Savings bonds) Suppose that you invest $500 in a Series EE bond with a yield to maturity of 2.31%. What will be the bond's value in 6 years