Your parents have discovered a P10,000 bond at the bottom of their safe deposit box. The bond was given to you by your l
Posted: Thu May 05, 2022 8:01 am
Your parents have discovered a P10,000 bond at the bottom of their safe deposit box. The bond was given to you by your late great-aunt Susan on your second birthday. The bond pays an annual interest rate of 5 percent. Interest accumulates and is paid at the time the bond is redeemed. You are now 19 years old. What is the current worth of the bond?