Answer:
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.
