55) louis started a simple interest savings account with $1500 that earned 3.5% interest. he left the account untouched until some 55) louis started a simi time later when he withdrew all the money in that account, which totaled $1683.75. how long did louis leave his money in the account? years

  3.5 years

Step-by-step explanation:

Each year, Louis earned

  $1500×0.035 = $52.50

in interest.

The amount of interest that had been credited to his account at the time of withdrawal was ...

  $1683.75 -1500.00 = $183.75

Then the length of time the money had been in the account was ...

  $183.75/($52.50/yr) = 3.5 yr

Comment on the problem

We have assumed the account earned simple interest. Given the neatness of the answer, we believe that to be a correct assumption.

answer:

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