Find the amount of interest earned on $5,000 at 15% compounded annually for 10 years. (Round your answer to the nearest dollar.)
FV =$5,000 x [1 + 0.15]^10
FV =$5,000 x 1.15^10
FV =$5,000 x 4.04555773570791015625
FV =$20,227.79 - $5,000 =$15,228 - total interest earned @15% comp. annually for 10 years.