Answer:
3 years
Step-by-step explanation:
Use the formula for simple interest: [tex]I=P*r*t[/tex]
replace each parameter with the given values (remember that the rarte "r" needs to be included in its decimal form 5%=0.05), and solve for the unknown t:
[tex]I=P*r*t\\75=500*0.05*t\\75=25*t\\\frac{75}{25} =t\\t=3[/tex]
The answer for the time comes in years, therefore t is 3 years
