you invest $3000 in an account at 3.5% per year simple interest. how much will you have in the account at…

Explanation:

Step1: Identify simple - interest formula

The simple - interest formula is $A = P(1+rt)$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. Here, $P=$3000$, $r = 0.035$ (since $3.5%=0.035$), and $t = 6$ (because we want the amount at the beginning of the 7th year, so the time of interest accumulation is 6 years).

Step2: Substitute values into formula

$A=3000\times(1 + 0.035\times6)$. First, calculate the value inside the parentheses: $0.035\times6=0.21$. Then $1+0.21 = 1.21$.

Step3: Calculate the final amount

$A = 3000\times1.21=$3630$.

Answer:

B. $3630$