Acompany borrowed $25,000 at 3.5% and was charged $2,625 in interest. how long was it before the company repaid the money?

The company repaid the money in 3 years.

Step-by-step explanation:

Hi, to solve this problem we have to apply the simple interest formula:

I = P x r x t

where:

I = interest = $2625

P = Principal amount= $25,000

r = interes rate (decimal) = 3.5% = 3.5 / 100 = 0.035

t = time

So, mathematically speaking:

I = P x r x t

2625 = 25,000 x 0.035 x t

2625= 875 x t

2625 / 875 =t

3 years = t

In conclusion, the company repaid the money in 3 years.

Feel free to ask for more if it´s necessary or if you did not understand something.

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step-by-step explanation:

the answer will be the last one