Mr. Cantu opened an account with a deposit of $2,000.

The account earned annual simple interest.
He did not make any additional deposits or withdrawals.
At the end of 8 years, the balance of the account was $3,150.
What is the annual interest rate on this account?

A) 12.5%

B) 10%

C) 8.25%

D) D) 7.19%