Answer:
Time = 4 years
Step-by-step explanation:
Simple interest (I) is calculated as
I = [tex]\frac{PRT}{100}[/tex] ( P is principal, R is rate of interest, T is time in years ) , then
5425 = [tex]\frac{15500(8.75)T}{100}[/tex] ( multiply both sides by 100 to clear the fraction )
542500 = 135625T ( divide both sides by 135625 )
4 = T
