In February 2009, President Obama signed into law a $787
Chapter 5, Problem 55(choose chapter or problem)
In February 2009, President Obama signed into law a $787 billion federal stimulus package. At that time, 20-year Series EE bonds had a fixed rate of 1.3% compounded semiannually. If the federal government financed the stimulus through EE bonds, how much would it have to pay back in 2029? How much interest was paid to finance the stimulus?
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