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Problem 4-21 Interest-on-Interest (LG4-3) Consider a $2,900 deposit earning 8 percent interest per year for five years. What is the future value? (Do not round
Problem 4-21 Interest-on-Interest (LG4-3) Consider a $2,900 deposit earning 8 percent interest per year for five years. What is the future value? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete and correct. Future value $ 4,261.05 How much total interest is earned on the original deposit? (Do not round intermediate calculations. Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Total interest earned $ 1,160.00 How much total interest is earned on the original deposit? (Do not round intermediate calculations. Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Total interest earned $ 1,160.00 X How much is interest earned on interest? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete and correct. Interest earned on interest $ 201.05
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