James_Kiang
Screenwriter
- Joined
- Aug 29, 2000
- Messages
- 1,171
A friend of mine at work was going through some of his papers and came across a Single Family Mortgage Bond that his mother and step-father purchased back in the '80s. It was for $5000 at an interest rate of 13.25%. Using a compound interest formula, that would seem to put it at a value of over $200,000.00. Is that right???
On a separate note, both his mother and step-father are deceased. He has the actual bond - I was just holding it. Does something like this pass on to other family members, or is it now just a plain piece of paper?
Thanks!
EDIT: I just realized that the $200k number is for after 30 years, but still, that is only a few years away at this point.
On a separate note, both his mother and step-father are deceased. He has the actual bond - I was just holding it. Does something like this pass on to other family members, or is it now just a plain piece of paper?
Thanks!
EDIT: I just realized that the $200k number is for after 30 years, but still, that is only a few years away at this point.