Suppose $16,537.50 in interest was earned after $75,000 was invested at a simple interest rate of 3.15%. How long (in years) was the money invested?

Round to the nearest tenth of a year if needed.

Question

Suppose $16,537.50 in interest was earned after $75,000 was invested at a simple interest rate of 3.15%. How long (in years) was the money invested?

Round to the nearest tenth of a year if needed.

anonymous · Answer

I found what 3.15% of $75,000 is and I got $2362.50 as the answer of that. I then simply multiplied that by 7 and it turned into the $16,537.50. So I would assume that is the answer although I am not the greatest at math...