Question

a company borrowed 25000 at 3.5% and was charged 2625 and interest how long will it take for the company pay

Answer 1

`\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$2625\\ P=\textit{original amount deposited}\dotfill & \$25000\\ r=rate\to 3.5\%\to (3.5)/(100)\dotfill &0.035\\ t=years \end{cases} \\\\\\ 2625=(25000)(0.035)t\implies \cfrac{2625}{(25000)(0.035)}=t\implies 3=t`