nate has an account that pays 2.76% simple interest per year and wants to accumulate $3,090 in interest from…

Explanation:

Step1: Recall simple - interest formula

The simple - interest formula is $I = Prt$, where $I$ is the interest, $P$ is the principal (initial investment), $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. We need to solve for $P$.

Step2: Convert the interest rate to decimal

The annual interest rate $r = 2.76%=0.0276$, $t = 15$ years, and $I=$3090$.

Step3: Rearrange the formula to solve for $P$

From $I = Prt$, we can solve for $P$ by dividing both sides of the equation by $rt$. So $P=\frac{I}{rt}$.

Step4: Substitute the values

Substitute $I = 3090$, $r = 0.0276$, and $t = 15$ into the formula: $P=\frac{3090}{0.0276\times15}$ First, calculate $0.0276\times15 = 0.414$. Then, $P=\frac{3090}{0.414}\approx7463.77$.

Answer:

d. $$7,463.77$