Answer
$\$9,450$
Work Step by Step
Find the interest using the formula $I=Prt$ where $P$=principal loan amount, $r=$annual interest rate, and $t$=time in years.
$I=\$7500 \times 6.5\% \times 4
\\=\$7500 \times 0.065 \times 4
\\=\$1,950$
Find the total amount due by adding the interest to the principal amount borrowed:
$=\$7,500 + \$1,950
\\=\$9,450$
