Answer:
4 years
Step-by-step explanation:
Given data
Principal P=$5000
Rate r= 7.5%
Final amount A=$6500
The expression for the simple interest is
A=P(1+rt)
Substitute
6500=5000(1+0.075*t)
6500=5000+375t
6500-5000=375t
1500=375t
t= 1500/375
t= 4 years
Hence, the time is 4 years
