Answer:
T = 6 years
Explanation:
Given that,
Principal, P = $750
Interest = $225
Rate of interest = 5%
We need to find in how many years it would take to earn $225 on a $750 investment at 5% simple interest. The formula for simple interest is given by :
[tex]I=\dfrac{PRT}{100}\\\\T=\dfrac{100I}{PR}\\\\T=\dfrac{100\times 225}{750\times 5}\\\\T=6\ years[/tex]
So, the required time is 6 years.
