You deposit $1000 in an account that earns 2.5% per year simple interest. The equation that represents this situation is:
A (n) = 1000 + (n - 1) (0.025 • 1000)
How much will you have in the account at the beginning of the 4th year? Round your answer to the nearest dollar.
A. $3250
B. $1088
C. $1163
D. $1075
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