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At 5.5% anual interest compounded monthly, how long before a $8000 bond, purchased at $2400 reahes face value?

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At 5.5% anual interest compounded monthly, how long before a $8000 bond, purchased at $2400 reahes face value?

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  1. I have used the calculators at www.savingsbond.gov in the past, it is an easy to use site. You can try there, or Yahoo Finance may have calculators you can modify.


  2. What kind of bond?  Sounds like a homework problem to me.

  3. ~21 years 11 months
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