Given: Suppose you found a CD that pays 3.5% interest compounded monthly for 5 years.

If you deposit $10,000 now, how much will you have in the account in 5 years? (Round to the nearest cent.)

$ 11909.43 (This is what I got)

What was the interest earned? (Round to the nearest cent.)
(This is the part I don't understand)

Question

Given: Suppose you found a CD that pays 3.5% interest compounded monthly for 5 years.

 If you deposit $10,000 now, how much will you have in the account in 5 years? (Round to the nearest cent.)

 $ 11909.43 (This is what I got)

 What was the interest earned? (Round to the nearest cent.) 
(This is the part I don't understand)

vocaloid · Answer

interest = 11909.43 - initial amount

anonymous · Answer

YOU ARE AMAZING!!! THANK YOU SO MUCH!!!!