Mathematics for IGCSE & O level - Percentages (Section 4 - No. 32)
What is the total amount in the bond after 6 years, given that 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?
$4500.00
$4700.00
$4665.38
$5000.00
Explanation
3500 * (1.05)^3 * (1.075)^3 = $4665.38