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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.