I want to purchase I-bonds per Clark Howard. But I am fuzzy about the math. Could we use $100 as a number to help my understanding? And cover this like I am in first grade.
Please attempt to respond in simple but not condescending language as I am here to learn?
Questions on timing
- I can only cash the bond out after one year. Is this Correct?
- And because of the pre-five-year minimum penalty, I will have to wait one year and three months to realize the total amount available for the year of gains. Is this Correct?
Questions on Interest
- A bond of $100 + 7.12% of interest would pay out 107.12 at the end of 15 months?
Thank you to all for your time and help with this
Submitted November 18, 2021 at 09:02AM by greenking49 https://ift.tt/3CuSBiy
