we know that
The simple interest formula is equal to
\(A=P(1+rt)\)
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
\(t=9\ years\\ P=\$2,136\\ A=?\\r=0.0536\)
substitute in the formula above
\(A=2,136(1+0.0536*9)\)
\(A=2,136(1.4824)\)
\(A=\$3,166.41\)
Round to the nearest dollar
\(A=\$3,166\)
therefore
the answer is the option D
\(\$3,166\)
