I wish to know: it said the total interest earned=future value -total payments, but I thought the total payments include the interest and principle payment.

Question 5 Mr. Y in excess money out of his savings has decided to make his savings invested.

An investment of $5,800 is done every year for a total of 6 years in an account in which the interest is 5% that is compounded annually. Mr. Y is desiring to compute the amount of total interest earned on his deposits.

It is given that the future value of the annuity at 5% for periods is given as 6.8019. Assuming that Mr. Y has made a total payment of $18,550.Therefore, determine the total interest earned by Mr. Y on the investment from the options given below: Choose an answer

A The total interest earned on the investment is $2,318.75.

B The total interest earned on the investment is $26,701.09.

C The total interest earned on the investment is $20,901.09.

D The total interest earned on the investment is $13,690.22.