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31 C.F.R. § 351.32

How are redemption values calculated for Series EE bonds with issue dates of May 1, 1997, through April 1, 2005?

§ 351.32 How are redemption values calculated for Series EE bonds with issue dates of May 1, 1997, through April 1, 2005?

(a) Formula for redemption value. We determine the redemption value of a bond for the accrual date (the first day of each month beginning with the fourth month from the issue date) in accordance with this section and the following formula:

FV = PV × {[1 + (i ÷ 2)] (m/6)}

where

FV (future value) = redemption value on redemption date rounded to the nearest cent. PV (present value) = redemption value at the beginning of the semiannual rate period i = savings bonds rate converted to decimal form by dividing by 100. m = number of full calendar months outstanding during the semiannual rate period. [1]
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