Answer: 6.5 years
Step-by-step explanation:
the formula for simple interest is:
SI = PRT, SI is the interest after a time, P is the principle amount, R is the rate, and T is the time passed
In our case:
1462.50 = 7500 x 0.03 x T
Solving for T:
1462.50 = 225T
.: T = 1462.50/225 = 6.5 years
She borrowed the money for 6.5 years
