Dorothy Taylor deposited $2,900 today in an account paying 5 percent interest annually. (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.) What would be the simple interest earned on this investment in 5 years? Simple interest on investment 725 With annual compounding, how much interest-on-interest would Dorothy earn in 5 years? Interest-on-interest $ 3197.25