Answer:
Option B. 3 years.
Step-by-step explanation:
Sylvio loaned a friend $1,500 at a simple annual interest rate of 5%.
Formula of simple interest = I = P(rt)
I = Interest ($225)
P = Principal amount ( $1,500)
r = 5% = 0.05
t = time ( ? )
Now put the values to find the years.
225 = 1500( 0.05t)
225 = 75t
75t = 225
t =
t = 3
It will take 3 years to repay him if Sylvio earned $225 in interest.
