Hi

 A= p(1+r/n) ^nt  (n=1 in this example: compounded annually

 A = p(1+r)^t   |A is p + I

log(A/p)/log(1+r) = t

 log(4235/3500)/log(1.07) = t = 2.8 or 3 years 

Answer by Alan3354(69443)   (Show Source): You can put this solution on YOUR website!
 If it's simple interest (you didn't specify a compounding period),

$3500*0.07 = $245 interest per year

735/245 = 3 years

 

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