Question

Suppose $7,558.20 in interest was earned after $12,350 was invested at a simple interest rate of 7.65%. How long (in years) was the money invested?

Answer 1

Since you are dealing with simple interest, you need to use the simple interest formula.
Do you know the simple interest formula?

Answer 2

Right, if you know the formula, then this problem really becomes easy to solve.

I = PRT

Where I = interest, P = principle (usually your starting amount), R = rate (of interest) and T (the amount of time the principle accrues interest).

Answer 3

I've figured it out now, thanks guys :D