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3 October, 16:09

Princible $15,500 Annual interest Rate 8.75% Time Simple interest $5425.00

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  1. 3 October, 16:17
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    Answer: 4 years

    Step-by-step explanation:

    Principal (P) = $15500

    Interest (I) = $5425

    Rate (R) = 8.75%

    Time (T) = ?

    To find the time, T

    I = (P x T x R) / 100

    making T the subject of formula

    T = (100 x I) / P x R

    Inputting the given values

    T = (100 x 5425) / 15500 x 8.75

    T = 542500 / 135625

    T = 4years
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