Sabrina purchased a $5000 compound interest Series S127 Canada Savings Bond on December 1, 2010. The interest
Question:
Sabrina purchased a $5000 compound interest Series S127 Canada Savings Bond on December 1, 2010. The interest was 0.65% in the first year, and 0.5% in each subsequent year. What maturity value did Sabrina receive when she redeemed the CSB on September 27, 2016? Problems 10 to 12, use Table 8.2 to find the Interest rates you need.
Table 8.2
Transcribed Image Text:
Interest rate effective Nov. 1 of: S108 (issued Nov. 1, 2007) S114 (issued Nov. 1, 2008) S120 (issued Nov. 1, 2009) S126 (issued Nov. 1, 2010) S128 (issued Nov. 1, 2011) S130 (issued Nov. 1, 2012) S131 (issued Nov. 1, 2013) S132 (issued Nov. 1, 2014) S133 (issued Nov. 1, 2015) 2007 3.25 2008 2.00 2.00 2009 0.40 0.40 0.40 2010 0.65 0.65 0.65 0.65 2011 0.50 0.50 0.50 0.50 0.50 2012 0.50 0.50 0.50 0.50 0.50 0.50 2013 0.50 0.50 0.50 0.50 0.50 0.50 0.50 2014 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 2015 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 - Matures Nov. 1 of: 2017 2018 2019 2020 2021 2015 2016 2017 2018
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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