10 ...............................
You first need to change 2 1/3 into a mixed fraction, which would be 7/3 and multiply by 5/1, which would be 35/3, and then divide 35 and 3 to get and answer of 11 2/3, which is the answer.
Hello
3 years. Since no mention of compounding was made I will assume that it's 3.5% simple interest. So first, let's calculate what percent of the entire loan was interest. Just a simply matter of division. 2625 / 25000 = 0.105 = 10.5% Now lets' divide the percentage of the loan that was paid in interest by the interest rate. 10.5% / 3.5% = 3 So the company took 3 years to repay the loan.
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