Answer:
3 years
Explanation:
1. Find 5 percent of 50.
5 percent of 50 is 2.5.
However, we are talking about money so we will say 2.50.
2. Add to 50 until you reach your desired number.
50 + 2.50 = 52.50
52.50 +2.50 = 55
55+2.50 = 57.50
Finally we have reached 57.50. It took us 3 equations to get there and therefore took 3 years.