Nate has an account that pays 2.76% simple interest per year and wants to accumulate $3,090 in interest from it over the next 15 years. how much money should nate invest in this account to meet this goal? a. $1,279.26 b. $4,369.26 c. $4,373.77 d. $7,463.77

Nate should invest $ 7463.77

Step-by-step explanation:

We have following formula to find the simple interest,

or we can also write this as

   --------(1)

where P = amount invested

          t= time in years

          r = rate of interest

         SI= simple interest

It is given that

SI= $ 3,090  

t= 15 years

r= 2.76% = 0.0276

Now we plug the values in the formula  (1)

so we have

Hence Nate should invest $ 7463.77

26

step-by-step explanation: