Is there an excel formula to make this easier or less timeconsuming?
Consider a $6,000 depositearning 9 percent interest per year for 9 years.
What is the future value? (Do not round intermediatecalculations and round your final answer to 2 decimalplaces.)
How much total interest is earned on the original deposit?(Do not roundintermediate calculations and round your final answer to 2 decimalplaces.)
How much is interest earned on interest? (Do not round intermediatecalculations and round your final answer to 2 decimalplaces.)
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