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

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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