In the summer of
Do you think it would have been possible to cash in this bond?
How many years has it been since the bond was issued? Do you think the state could pay that much?
were invested in at an interest rate of compounded annually, how much would the investment be worth in
Use to find the worth of the investment.
The investment is worth about
What is the place value of the first digit in the answer to part (b)?
The first digit is in the quadrillion place.
Would the amount be significantly different if was compounded continuously instead?
, or about dollars more.