Find the simple interest of the given loan amount. Round to the nearest cent. Use $I=P r t$
1) Loan amount of $\$ 900$ at an annual percentage rate of $7 \%$ for 4 years
A) $\$ 252.00$
B) $\$ 25.20$
C) $\$ 32.14$
D) $\$ 1575.00$

Step 1 ：Given a loan amount of $900 at an annual percentage rate of 7% for 4 years, we are to find the simple interest. The formula for simple interest is given by \(I=Prt\), where \(P\) is the principal amount (the initial loan amount), \(r\) is the annual interest rate (in decimal form), and \(t\) is the time the money is borrowed for in years.

Step 2 ：Substitute the given values into the formula: \(P = \$900\), \(r = 7\% = 0.07\), and \(t = 4\) years.

Step 3 ：Calculate the simple interest: \(I = Prt = 900 * 0.07 * 4 = \$252.00\)

Step 4 ：The simple interest for a loan amount of \$900 at an annual percentage rate of 7% for 4 years is \$252.00.

Step 5 ：Final Answer: \(\boxed{\$ 252.00}\)