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

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