Xavier owned a Series EE savings bond for 4 years and has decided to cash it tomorrow. The current value of the bond is $3,500, and the annual interest rate is 2.2%. How much interest will Xavier lose as a penalty for cashing in the bond?
A) $16.40.
B) $19.25.
C) $21.30.
D) $23.75.
Correct Answer:
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