Complete each proof
(If you don’t know the answer, please don’t answer)

The formula is:
Future value = accumulated amount, F = P(1+r)^t
P=principal
r=annual interest rate [compounded annually]
t=number of years of loan
 
Given: 
P=950
r=0.07
t=8

F=950(1.07)^8
= 1632.28 (total amount)

Interest = total amount - principal
=1632.28 - 950
=682.28