Nate has an account that pays 2.76% simple interest per year and wants to accumulate $3,090 in interest from it over the next 15 years. How much money should Nate invest in this account to meet this goal?

For simple interest, use I = Prt, where I is the interest, P is the amount invested, r is the annual rate, and t is the time in years. Solving for P gives P = 3,090 ÷ (0.0276 × 15) = 3,090 ÷ 0.414 ≈ $7,463.77. Nate should invest $7,463.77, choice D.

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