Mathematics for IGCSE & O level - Percentages (Section 6 - No. 6)
Andrew invested $3500 in a six-year bond that paid 5% compound interest for the first three years and 7.5% compound interest for the next three years. What is the amount in the bond, to the nearest cent after six years?
$4044.00
$4907.97
$5000
$5005
स्पष्टीकरण
Year 1-3 = 3500 * (1 + 5/100)^3 = 4043.63. Year 4-6 = 4043.63 * (1+7.5/100)^3 = 4907.97