calculate the compound interest on investing $600 for 2 years at 7% per annum

Answer 1

amount = 600(1.07)^2 = 686.94

So $86.94 was gained in interest.

Answer 2

calculate the compound interest on investing $600 for 2 years at 7% per annum.

Answer 3

600 x 7x1=$42
600x42=$642
642x7x1=44.94
42+44.94=86.94

Answer 4

86.94