Answer:
after 6 years you owe $250.37 in interest for a total of $750.37
Step-by-step explanation:
-7% of 500 is 35. the first year you owe $535
-7% of 535 is 37.45 the second year you owe $572.45
-7% of 572.45 is 40.07 the 3rd year you owe $612.52
-7% of 612.52 is 42.88 the 4th year you owe $655.40
-7% of 655.40 is 45.88 the 5th year you owe $701.28
-7% of 701.28 is 49.09 in total you owe $750.37
