The total repayment made, including principal and interest is $1262.27
Compound interest
The formula for calculating the compound interest is calculated as shown below;
A = P(1+r)^t
where
P is the principal = $1100
rate = 3.5% = 0.035
time "t" =4 years
Substitute
A. = 1100(1+0.035)^4
A = 1100(1.035)^4
A = 1100(1.14752)
A = 1262.27
Hence the total repayment made, including principal and interest is $1262.27
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