iris has an investment worth $8,813. she made her only deposit in it seven years ago. given that the…

Explanation:

Step1: Recall simple - interest formula

The formula for simple interest is $A = P(1+rt)$, where $A$ is the final amount, $P$ is the principal (initial deposit), $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. Here, $A=$8813$, $r = 0.037$, and $t = 7$.

Step2: Rearrange the formula to solve for $P$

Starting from $A = P(1+rt)$, we can solve for $P$ by dividing both sides of the equation by $(1 + rt)$. So, $P=\frac{A}{1+rt}$.

Step3: Substitute the values into the formula

Substitute $A = 8813$, $r=0.037$, and $t = 7$ into the formula: [ \begin{align*} P&=\frac{8813}{1+(0.037\times7)}\ &=\frac{8813}{1 + 0.259}\ &=\frac{8813}{1.259}\ &=7000 \end{align*} ]

Answer:

d. $$7,000$