How much is interest earned on interest

Reference no: EM131794690

Question: Consider a $5,600 deposit earning 10 percent interest per year for 10 years.

1. What is the future value? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

2. How much total interest is earned on the original deposit? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

3. How much is interest earned on interest? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM131794690

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