Question $12$

$1pts$

When you were $10$ years old, your grandparents put $$500$ into an account for you paying $7$ percent interest. Now that you are $18$ years old, your grandparents tell you that you can take the money out of the account. What is the balance to the nearest cent?

$$1,111\mathrm{.}77$

$$983\mathrm{.}58$

$$859\mathrm{.}09$

$$1,200\mathrm{.}00$