Step-by-step explanation:
as in the attachment, i have named the lines by letters for easiness
Answer:
2 years
Step-by-step explanation:
3% of $550 = 0.03 * $550 = $16.50
3% interest on $550 for 1 year is $16.50
$33/$16.50 = 2
Since 2 * $16.50 = $33, the loan was for 2 years.