back in october 2000, i started having $50 deductions coming out of my paycheck for I-bonds. as a result, i now receive two bonds each month in the mail. after receiving them, i 'register' them on the savings bond calculator provided by one of the websites. this site automatically fills in the amount of interest as well as tell you when the next accrual date is. my question is this: my first $50 bond purchased in october 2000, is now collecting interest. the amount credited was $0.92. can someone please explain where that amount is coming from? i realize that there are two rates applicable to the I-bonds...fixed and variable which at the time equaled $7.49. nothing i do makes me come up with $0.92. i just don't get it. can someone show me how to come up with this without referring me to a website that i don't understand. i'm sure this has to be easy, but i'm just not seeing it and the websites that show the fixed and variable rates don't seem to give me the $0.92 figure. help...i'm losing my mind over this and next month, i have november's bonds that will start getting interest. foolishly at your mercy.
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