3500 to purchase a government bonds Pays 4.89% annual simple interest. How much will you have in 3 years?

Question

3500 to purchase a government bonds

Pays 4.89% annual simple interest.

How much will you have in 3 years?

in progress 0
Amara 2 weeks 2021-09-09T12:07:58+00:00 1 Answer 0

Answers ( )

    0
    2021-09-09T12:09:36+00:00

    Answer:

    4013.45

    Step-by-step explanation:

    Given,

    Purchased amount of the bond, P = 3500,

    Annual rate of simple interest, r = 4.89% = 0.0489,

    Time ( in years ), t = 3,

    Since, the total amount of a bond that earns simple interest is,

    A=P(1+r\times t)

    By substituting values,

    The amount of the bond would be,

    =3500(1+0.0489\times 3)

    =3500(1.1467)

    =4013.45

Leave an answer

Browse
Browse

27:3+15-4x7+3-1=? ( )