On your eightieth birthday, you learn that your grandma, still competitively arm wrestling at 128 years old,
Question:
On your eightieth birthday, you learn that your grandma, still competitively arm wrestling at 128 years old, spent $100 on a treasury bond carrying 8% interest on the day you were born. She buried in a coffee can in her back yard and messaged (Morse code) her grandchildren that whoever finds it gets to keep it. Much to her dismay, your 5 cousins refuse the game because “$100 is only like 8 Chipotle burritos if you add guacamole.” This is bittersweet. On the one hand, without much fight, you find the bond. However, on the other hand, the deep disappointment of the anticlimactic event sent your grandmother spiraling into a rabbit hole of conspiracy theories that she never emerged from (that is, your grandmother passed away from sadness, familial disappointment, and paranoia).
But, back the first hand, how much is your bond worth today?
Financial Management for Decision Makers
ISBN: 978-0138011604
2nd Canadian edition
Authors: Peter Atrill, Paul Hurley