You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to invest $3,600 today and both accounts have an annual interest rate of 8 percent. How much more interest will you receive in the 7th year in the account that pays compound interest?

$186.18 $288.00 $169.02 (correct) $181.87 $182.69

What is wrong with my answer?

Simple interest: 3600*0.08*7=2016

compound: I=8%, PV=-3600, PMT=0, N=7, we have FV=6169.767, the compounded interest is 6169.767-3600=2569.767

The difference between the interest will be 2569.767-2016=553