Problem
Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent if necessary. Rosey borrows \( \$ 7500 \) and agrees to pay it back in 4 years. If the simple interest rate is \( 13 \% \), find the total amount she pays back. \( \$ 11,400.00 \) \( \$ 39,000.00 \) \( \$ 46,500.00 \) \( \$ 3900.00 \)
Solution
Step 1 ：\( I = P \times r \times t \)
Step 2 ：\( I = 7500 \times 0.13 \times 4 \)
Step 3 ：\( I = 3900 \)
