Answer:
$307.5
Step-by-step explanation:
We have been given that Elena's aunt bought her a $150 savings bond when she was born. When Elena is 20 years old the bond will have earned 105% interest.
The bond's value after 20 years will be 150 plus 105% of 150.
[tex]\text{Bond's value when Elena will be 20 years old}=150+(\frac{105}{100}*150)[/tex]
[tex]\text{Bond's value when Elena will be 20 years old}=150+(1.05*150)[/tex]
[tex]\text{Bond's value when Elena will be 20 years old}=150+157.5[/tex]
[tex]\text{Bond's value when Elena will be 20 years old}=307.5[/tex]
Therefore, bond will be worth $307.5 when Elena will be 20 years old.
