you invest $1000 dollars in an account at 2.5% per year simple interest. How much will you have in the account at the beginning of the 4th year. Round your answer to the nearest whole dollar

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

Hope this helps!!
~Lena~

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tutorconsortium33 tutorconsortium33 · Answer 2 · 2022-07-09T14:02:09+02:00

$1,075.

Simple interest:

Simple interest is calculated on a loan's principal amount or the first deposit into a savings account.
Simple interest doesn't compound, thus an account holder only earns interest on the principal and a borrower never has to pay interest on the previously accumulated interest.

Formula -

I = PRT

Solution -

Given -

[tex]I = 1000\\[/tex]

r = 2.5% or .025.

T = 3

Now, substitute all the values in the formula as follows:

[tex]I=(1000)(.025)(3)\\I=75[/tex]

So, at the beginning of the fourth year, there will be [tex]1000+75 =[/tex]$[tex]1075[/tex] in the bank account.

Therefore, the answer is $1,075.

Know more about the simple interest here:

https://brainly.com/question/20690803

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