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23 September, 16:52

How long will it take to earn $525 in interest if $3500 is invested at a 6% annual interest rate?

a. 2 yearsc. 25 yearsb. 2.5 yearsd. 3 years

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  1. 23 September, 20:11
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    I=PRT

    525=3500*0.06*t

    525=210*t

    divide both sides by 210

    2.5=t

    answer is 2.5 years
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