Question

principal $15,500, interest rate 8.75%, time □ years, simple interest $5425.00

Explanation:

Step1: Recall simple interest formula

$I = P \times r \times t$
Where $I=\$5425$, $P=\$15500$, $r=0.0875$

Step2: Rearrange for time $t$

$t = \frac{I}{P \times r}$

Step3: Substitute values and calculate

$t = \frac{5425}{15500 \times 0.0875} = \frac{5425}{1356.25} = 4$

Answer:

4 years