tunity 3. Bill would like advice on investing in a $20.000 2-year, snowball fixed deposit providing an interesa rate of 5% p.a. with interest paid half-yearly/The interest paid is teinvested back into the fixed deposit which is the basis for the snowball description. On maturity, the investment provides a bonus interest amount of $500 for all investments that have a balance at maturity that exceeds their initial investment by more than 10%. Bill is subject to a 40% effective tax rate for interest income derived in the first year and 30% for the second year. Bill has sought your assistance in determining whether he would be eligible for the interest bonus and also to calculate his total after-tax net income from the investment