Home > A2C > Chapter 11 > Lesson 11.3.2 > Problem 11-144
11-144.
How many years has it been since the bond was issued? Do you think the state could pay that much?
Use A = P(1 + r)n to find the worth of the investment.
A = 1,000 r = 0.24 n = 129
The investment is worth about 1.126 · 1015
The first digit is in the quadrillion place.