Correct!

Guitarist/vocalist Rick Derringer was only 16 years old when his band "The McCoys" recorded the hit "Hang On Sloopy" in the summer of 1965, knocking "Yesterday" by The Beatles out of the top spot. Derringer went on to record with Johnny Winter, Steely Dan, Alice Cooper, Kiss, and others. He has also had a successful career as a producer, working with Weird Al Yankovic, and many more artists.

Can you stand the pressure?!
Let's move on to the $1,000,000 question.