Answer:
The interest is $1350 and the amount is $5850.
Step-by-step explanation:
STEP 1: Find an interest by using the formula I = P*I*T, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this example P = $4500, i = 7.5% and t = 4 years, so
4500*0.075*4
I = 1350
STEP 2: Find an amount by using the formula .
Since P = $4500 and I = $1350 we have
$4500 + $1350 = $5850
