Answer:
$1,075
Step-by-step explanation:
Simple Intereat Formula:
A = P(1+rt)
where A is the final amount,
P is the principal(original amount invested)
r = annual interest rate
t = time in years
Given P = 1000
r = 2.5/100
t = 3 (Beginning of 4th year means the 4th year is not counted)
A = 1000(1+(0.025)(3))
= 1000(1.075)
=$1,075
