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OpenStudy (anonymous):
Nelson invested $500.00 in a certificate of deposit that pays 2.5% simple interest when it matures according to the formula below. I = Prt In the formula, I represents interest, P represents the money invested, or principal amount, r is the simple interest rate, and t represents the time, in years, that the money is invested. If Nelson will earn $62.50 in interest when the certificate of deposit matures, how long will it take to mature?
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