The main refrigerator at Parkside Grille Restaurant had a serious malfunction. Laura Casper, the owner/chef, found a very nice used replacement refrigerator, but she needed $4,500 additional cash immediately. She took out a 75-day loan at 7.5% exact simple interest. Compute the total, interest, and principal that Laura must pay for this loan. (Use a 365-day year.)
$4,500 × 0.075 × 75/365 = $69.35; $4,500 + $69.35 = $4,569.35
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