12 years if interest is paid yearly 12 months if interest is paid monthly Step-by-step explanation: 2.75% of $1500 is $41.25 interest per period $1995-$1500 = $495 total interest $495 ÷ $41.25 = 12 periods Therefore it takes 12 interest periods to reach $1995, so the answer is 12 months or 12 years depending on how often interest is paid.
