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

The  number of years = 3 years

Step-by-step explanation:

Points to remember

Simple interest

I = PNR/100

Where P - Principle amount

N - Number of years

R - Rate of interest

To find the number of years

Here P = 25,000

R = 3.5% and I = 2625

I = PNR/100

N = (I * 100)/PR

 = (2625 * 100)/(25000 * 3.5)

 = 3 years

Therefore number of years = 3 years