Answer: Amount after 5 years become $5937.60.
Step-by-step explanation:
Since we have given that
Principal amount = $5000
Time period = 5 years
Rate of interest for 3 years = 6%
Rate of interest for 2 years = 8%
so, Amount becomes
[tex]Amount=5000(1+\dfrac{6}{1000})^3(1+\dfrac{8}{100})^2\\\\Amount=5000(1+0.006)^3(1+0.08)^2\\\\Amount=5000(1.006)^3(1.08)^2\\\\Amount=\$5937.60[/tex]
Hence, Amount after 5 years become $5937.60.
