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On February 1, 2020, Andrew purchased a $50,000 compound interest Corporate Redeemable Bond. Interest is compounded annually on anniversary dates and can be redeemed between

On February 1, 2020, Andrew purchased a $50,000 compound interest Corporate Redeemable Bond. Interest is compounded annually on anniversary dates and can be redeemed between anniversary dates. If redeemed between the anniversary dates, then simple interest will be earned for each full month of outstanding bonds. The interest rate was 1.55% for each of the first two years and 2.675% for the third year. What was the total interest earned on the Bond by the time Andrew redeemed the bond on April 1, 2022?

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