You invest $1000 in an account at 2.5% per year simple interest. How much will you have in the account after 3 years? Round to t
2 answers:
Answer:
The amount in the account after 3 years is $1075 .
Option (B) is correct.
Step-by-step explanation:
Formula
As given
You invest $1000 in an account at 2.5% per year simple interest.
Principle = $1000
rate = 2.5 %
Time = 3 years
Put in the formula
Simple interest = $75
Amount in the account = Principle + simple interest
= $1000 + $75
= $1075
Therefore the amount in the account after 3 years is $1075 .
Option (B) is correct.
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