Answer:
$937.50
0.04 x 937.50 = 37.50
Explanation:
Percentage of 4% would only multiply $4 per 100, $40 per 1000
and as this is under 1000 we only have to multiply 1.4 x 37.50
then multiply that answer by 1.4 again and get 62.5 then subtract from a 1000 = 937.50
0.04 x 937.50 = 37.50