I Bond Interest Payment
Hey Terry,
I bought $10,000 worth of I-Bonds in December 2021, at an interest rate of 7.12%. My current value is now showing $10,236. As I have now past 6 months, shouldn’t I have $10,356? (7.12% / 2 =3.56 X 10,000 = $356). Am I missing something in the way interest payments are made?
Thanks for the help on this, and thanks for all the advice I get every Wednesday at noon!
Terry Says
Your “interest” is added to the value of your investment every six months. Don’t worry. The Treasury department ALWAYS gets the math correct! And you don’t pay taxes till you cash in the bond. And since you can’t take the money out without a penalty for 5 years, just ignore the numbers!
This is the kind of investment you really just put away for the future!
