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I need help with this Tyler’s mom purchased a saving bond for Tyler. The value of the savings bond increases by 4% each year one year after it was purchased, the value of the savings bond was $156.00 find the value of the bond when Tyler’s mom purchased it. Explain your reason

Respuesta :

Let x = value of the bond when Tyler’s mom purchased it.

After one year, this value increased by 4%. This new value is calculated as follows:

[tex]\text{new value = }x\cdot1.04[/tex]

The new value is $156.00, then

[tex]\begin{gathered} 156.00=x\cdot1.04 \\ \frac{156.00}{1.04}=x \\ 150.00=x \end{gathered}[/tex]

The value of the bond was $150.00 when Tyler’s mom purchased

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