Tylers Mom Purchased A Savings Bond For Tyler. The Value Of The Savings Bond Increases 4% Each Year. One Year After It Was Purchased The Savings Bond

Tylers mom purchased a savings bond for Tyler. The value of the savings bond increases 4% each year. one year after it was purchased the savings bond was $156. Find the value of the bond when Tylers mom purchased it

 

Answer:

$150.00

Computation:

Let s represent the value of the savings bond during Tylers mom purchase.

s+s(4\%)=\$156\\s+s(0.04)=\$156\\1.04s=\$156\\s=\$156/1.04=\boxed{\$150}


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