Calculate the amount of money you'll have at the end of the indicated time period. You invest \( \$ 1000 \) in an account that pays simple interest of \( 2 \% \) for 30 years. The amount of money you'll have at the end of 30 years is \( \$ \square \)

To calculate the amount of money you'll have at the end of 30 years with simple interest, you can use the formula: \[ A = P + (P \times r \times t) \] where: - \( A \) = total amount after time \( t \) - \( P \) = principal amount (\$1000) - \( r \) = annual interest rate (2\% = 0.02) - \( t \) = time in years (30 years) Plugging in the values: \[ A = 1000 + (1000 \times 0.02 \times 30) \] \[ A = 1000 + (1000 \times 0.6) \] \[ A = 1000 + 600 \] \[ A = 1600 \] So, the amount of money you'll have at the end of 30 years is \( \$ 1600 \).