The one-year fixed deposit interest rate is 4.7%, the two-year interest rate is 5.1%, and the interest tax is deducted by 20%. Someone will deposit 1000 yuan for one year and then two years How much is the principal and interest after three years?

The one-year fixed deposit interest rate is 4.7%, the two-year interest rate is 5.1%, and the interest tax is deducted by 20%. Someone will deposit 1000 yuan for one year and then two years How much is the principal and interest after three years?

1. The principal is 1000 yuan and the term is one year
After tax interest = principal × interest rate × term × (1-tax rate)
After tax interest = 1000 × 4.7% × (1-20%) = 37.6 yuan
Sum of capital and interest = 1000 + 37.6 = 1037.6 yuan
2. The principal is 1037.6 yuan with a term of two years
After tax interest = 1037.6 × 5.1% × 2 × (1-20%) = 84.67 yuan
Sum of capital and interest = 1037.6 + 84.67 = 1122.27 yuan
Interest after three years = 1122.27-1000 = 122.27 yuan