Final answer:
The amount of simple interest accumulated on a $52,500 investment at a 2% rate over 7 years is $7,350.00, which is calculated using the simple interest formula I = P × r × t.
Step-by-step explanation:
To calculate the amount of simple interest you'll have at the end of the indicated period, you can use the formula for simple interest which is Interest (I) = Principal (P) × Interest Rate (r) × Time (t). In this case, the principal is $52,500, the interest rate is 2% or 0.02 (as a decimal), and the time is 7 years.
Plugging in the values, the calculation for simple interest is as follows:
I = $52,500 × 0.02 × 7
Therefore, I = $52,500 × 0.02 × 7 = $52,500 × 0.14 = $7,350.00.
The correct answer is d) $7,350.00.