Okay, let's figure this out. Series 120 (Nov.1, 2009) 1 Year Interest 0.40%.
Suppose I had $10 000 000. Yep, that's a 1 followed by 7 zeros, and I purchased Series 120, my annual interest would be $40 000. Yep, that's a 4 followed by 4 zeros. Not quite enough to live on; still would have to collect bottles from the ditches to top up my income!
Now, more realistically, suppose I purchased $10 000 of these bonds. After a year, I'd earn $40. That's about $3.33 a month. Double-double anyone?
Question: Who in their right mind would buy these bonds, with 40˘ interest on a $100 investment?