Answer:
$1,825.47
Explanation:
To find the account balance after 9 months of depositing $1,750 at a simple annual interest rate of 5.75%, we need to use the formula:
Simple Interest = P * r * t
where P is the principal amount, r is the interest rate, and t is the time period.
First, we need to convert the annual interest rate to a rate for 9 months. We can do this by dividing the annual rate by 12 and multiplying by 9:
Interest rate for 9 months = (5.75%/12) * 9 = 4.3125%
Now we can substitute the values into the formula and solve for the simple interest:
Simple Interest = $1,750 * 4.3125% * (9/12)
Simple Interest = $70.90
The simple interest is $70.90, which means the account balance after 9 months is:
Account balance = $1,750 + $70.90
Account balance = $1,820.90
Therefore, the correct answer is option 3, $1,825.47 (rounded to the nearest cent).