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US Series HH Savings Bond Formula:
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The US Series HH Savings Bond Calculator calculates the current value of Series HH savings bonds based on the purchase amount, annual interest rate, and years held. Series HH bonds were interest-bearing savings bonds issued by the US Treasury.
The calculator uses the Series HH savings bond formula:
Where:
Explanation: The formula calculates compound interest with semi-annual compounding, which was characteristic of Series HH savings bonds.
Details: Accurate bond valuation helps investors understand the current worth of their savings bonds, plan for financial goals, and make informed decisions about holding or redeeming bonds.
Tips: Enter the original purchase amount in USD, the annual interest rate as a decimal (e.g., 0.05 for 5%), and the number of years the bond has been held. All values must be positive.
Q1: What were Series HH savings bonds?
A: Series HH bonds were US government savings bonds that paid interest semi-annually and were issued from 1980 to 2004. They were discontinued but many remain outstanding.
Q2: How does semi-annual compounding work?
A: Interest is calculated and added twice per year, which results in slightly higher returns than annual compounding due to the compounding effect.
Q3: What was the typical interest rate for HH bonds?
A: Rates varied over time but were generally around 1.5-4% during their issuance period. The exact rate depends on the issuance date.
Q4: Are HH bonds still earning interest?
A: Most HH bonds reached final maturity in 2020 and stopped earning interest. Check the specific bond's terms for exact maturity dates.
Q5: Can I still redeem HH bonds?
A: Yes, HH bonds can still be redeemed at most financial institutions, though they no longer earn interest after maturity.