Question: Each holiday season Michael received a U S savings bond from
Each holiday season, Michael received a U.S. savings bond from his grandmother. Michael has eventually received twelve savings bonds. The bonds vary in their rates of interest and their face value. Assume that today is December 31, 2011. What is the value of this portfolio of U.S. savings bonds? On what dates does each of the individual bonds reach their face value or maturity date (note that the price is half the face value)? Estimate to the nearest month and year for each bond. Note: the bonds continue earning interest past their maturitydates.
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