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,
[tex]A=P(1+r\times t)[/tex]
By substituting values,
The amount of the bond would be,
[tex]=3500(1+0.0489\times 3)[/tex]
[tex]=3500(1.1467)[/tex]
[tex]=4013.45[/tex]
