Answer:
4 1/2 years
Step-by-step explanation:
T = 100 I /PR
Where
T = time
I = interest
P = principal
R = rate
Given
P = $3500
R = 6%
I = $945
T = ??
Therefore
T = 100 x 945 /3500 x 6
= 94500/21000
Cancel out zeros
= 945/210
Divide the numerator and denominator by 5
= 189/42
Divide both by 7
= 27/6
Divide by 3
= 9/2
= 4 1/2 years
