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Mathematics

1 answer:

Sholpan [36]2 years ago

6 0

Answer:

$1,075

Step-by-step explanation:

Simple Intereat Formula:

A = P(1+rt)

where A is the final amount,

P is the principal(original amount invested)

r = annual interest rate

t = time in years

Given P = 1000

r = 2.5/100

t = 3 (Beginning of 4th year means the 4th year is not counted)

A = 1000(1+(0.025)(3))

= 1000(1.075)

=$1,075

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