Is this correct?

Nathan opened a savings account 11 years ago with a deposit of $2,665.79. The account has an interest rate of 4.8% compounded quarterly. How much interest has Nathan earned?

$2,793.75

$1,798.99

$1,839.97

$4,505.76

Question

Is this correct?

Nathan opened a savings account 11 years ago with a deposit of $2,665.79. The account has an interest rate of 4.8% compounded quarterly. How much interest has Nathan earned?

 $2,793.75

 $1,798.99

 $1,839.97

 $4,505.76 <-- My answer (:

hero · Answer

Compound Quarterly:
$$A = P\left(1 + \frac{r}{4}\right)^{4t}$$

anonymous · Answer

That's the formula I used

hero · Answer

Hang on a minute

anonymous · Answer

Okay, will do (:

hero · Answer

It is possible you may have mis-interpreted the question

anonymous · Answer

I tend to do that a lot, so it's not surprising if I did lol

anonymous · Answer

Can I show how I set it up to see if I did it wrong?

hero · Answer

Yes, to find the interest you have to do this

Subtract A - P, so
4505.76 - 2665.79 = 1839.97

hero · Answer

They only want the interest gained, not the full value of A.

anonymous · Answer

Okay, I definitely misinterpreted it. I just don't really know how to find how much interest was earned

hero · Answer

I just showed it to you.

hero · Answer

I = A - P 

I = Interest Earned
P = Principal
A = Account Balance

anonymous · Answer

Oh, sorry. Okay, gimme a minute and I'll show you what I ended up with

anonymous · Answer

Well, I ended up with the same answer as you. Does that mean I was correct?

hero · Answer

Yes, 1839.97 is the correct answer for this.

anonymous · Answer

but it is not one of my answer choices :l

anonymous · Answer

This is what I have to choose from: 

Nathan opened a savings account 11 years ago with a deposit of $2,665.79. The account has an interest rate of 4.8% compounded quarterly. How much interest has Nathan earned?

 $2,793.75

 $1,798.99

 $1,839.97

 $4,505.76

hero · Answer

That's interesting because it is one of the answer choices.

anonymous · Answer

...I can be so stupid and oblivious at times.........

hero · Answer

Nathan opened a savings account 11 years ago with a deposit of $2,665.79. The account has an interest rate of 4.8% compounded quarterly. How much interest has Nathan earned?

 $2,793.75

 $1,798.99

 $\color\red{$1,839.97}$

 $4,505.76

anonymous · Answer

Thanks Hero. As embarrassing as it was, thanks for your help

hero · Answer

You're welcome

rockinhood · Answer

Lol Savage @Hero