Question
Consider a $2,600 deposit earning 8 percent interest per year for five years. What is the future value? (Do not round intermediate calculations. Round your
Consider a $2,600 deposit earning 8 percent interest per year for five years.
What is the future value? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Future value $ _____
How much total interest is earned on the original deposit? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Total interest earned $ _______
How much is interest earned on interest? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Interest earned on interest $ _________
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