The correct answer is: [C]: " $4290.00 " .
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Explanation:
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Given: principal, "P": equals: $14,300 ;
rate, "r" : equals: 7.5 % = 7.5 / 100 = 0.075 ;
time, "t" (in years): equals: 4 ;
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What is the interest, "i" ?
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Note: The formula: i = P * r * t .
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So, we plug in our given values for "P", "r", and "t", and solve for "i" (interest).
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i = ($14,300) *(0.075) * (4) ;
i = $1,490 ; which is answer choice: [C]: " $4290.00 " .
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