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 the nearest whole dollar. A: $3250 B: $1075 C: $1088 D: $1163

Interest = Principle * rate * time

I = PRT

P = 1000

R = 2.5% - - change to a decimal =.025

T = 3

now we sub I = PRT

I = (1000) (.025) (3)

I = 75

so at the end of 3 years, there will be : 1000 + 75 = $ 1075 in the account