that seems correct because the 28 cents only represents the additional interest from May to June
the value including accrued interest in December 2023 80.44. 4% for 1/2 year about $1.60. one month
+1.60/6 or 28 cents.
I'm a little confused. I thought interest is only "earned" every 6 months. If I cashed the savings bond in Jan. , Feb. March. April or May, I would have gotten $0.28 less than cashing it in June. June was the end of the 6-month period and also the 30-year end.
Here is the Saving Bonds Calculator. You can get the value for any time period. I entered all my bonds and saved my inventory. So every 6 months or so I can look up the value to enter into my Quicken program.
https://treasurydirect.gov/BC/SBCPrice
@mitchden1 wrote:
I'm a little confused. I thought interest is only "earned" every 6 months. If I cashed the savings bond in Jan. , Feb. March. April or May, I would have gotten $0.28 less than cashing it in June. June was the end of the 6-month period and also the 30-year end.
Be aware that the government has changed the rules on interest calculations several times, so for a bond issued in 1994, you need to know what the 1994 rules were, not what the rules are today.
The saving bond calculator works better in Internet Explorer than google or chrome. Here's what it looks like
Thanks. I never knew that I can cash out a Bond before the end of a 6-month period and not lose any accrued interest. Was I earning 4% interest on the Bond that was issued in June 1994?
I have other bonds that were issued in September 1994 and October 1994. Would you know if those bonds are also earning 4%?