You invest $1,000 in an account at 2.5% per year simple interest. How much will you have in the account after 4 years? Round your answer to the nearest whole dollar

Amount after 4 years = 1000+100=$1100

Step-by-step explanation:

To solve this, we will simply use the simple interest formula;

S. I = PRT/100

where p=principal

R=rate and T = time

S. I = simple interest

From the question

Principal=$1000

Rate = 2.5 and time=4

We can now proceed to inert the values into the equation

S. I = 1000*2.5*4 / 100

Two zeros at the numerator will cancel-out the two zeros at the denominator, Hence;

S. I = 10*2.5*4

S. I = $100

Amount after 4 years = 1000+100=$1100

1000 * (1,025) = 1025 $ the 1st year

After 4 years, the account will be 4 * 1025=4100