8.12D Compound Interest DC #2

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

• $2273.04

• $1080.57

• $1057.95

• $902.18

James needs 1200 to fund a project. He borrows the money off the bank at an interest rate of 4.5% for 3 years compounded annually. Calculate how much interest he pays (not the total amount)

• 1369.40

• 1268

• 169.40

• 162

Nick borrows $9200 at an interest rate of 7% interest for 4 years compounded annually. Calculate the total amount he has to repay 

• 2859.32

• 12059.32

• 10000

• 12059

Find the total amount in the account to the nearest cent if the interest is compounded annually. 
$2750 at 8% for 2 years

• $2200.00

• $3207.60

• $8910.00

• $2750

What is the total balance for a loan of $400 compounded annually that has a rate of 11% for 4 years

• $207.23

• $607.23

• $176

• $576