The bond will reportedly be worth $2411.2 after 4 years, according to the question.
Governments and corporations issue bonds when they require to raise money. You are effectively borrowing the issuer money when you buy a bond. In return, they promise to pay periodic interest payments—typically twice a year—along the way as well as to reimburse you the full amount of the loan on the specified date.
Kunio puts $2200.00 into savings bonds means
P= 2200
pay a simple interest rate of 2.4% means
r= 2.4
t= 4
Formula for Simple interest =P*t*r/100
Simple interest (2200×2.4×4)/100
Simple interest= $211.2
So, A= P+ Simple interest
A= 2200+211.2= 2411.2
Hence bond will be worth $2411.2
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