Homework Answers
Simple Interest = (Principal x rate x time)/100
Principal = $3500
Rate = 4.5% annual simple interest
time = 35 years
Amount = Principal + S.I. = $3500 + $5512.5 = $9012.5 = $9013 (approx.)
The value of the bond after 35 years = $9013
Ans: option (e)
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