Use the formula to solve the problems.

P (1+r) t

The amount that results when $6,000 is compounded at 7% annually over eight years.

The interest earned in this case.

A = p (1 + r) ^t

A = 6000 (1 +.07) ^8

A = 6000 (1.07) ^8

A = 10,309.12

The amount in the account after 8 years is 10,309.12, subtract the amount of principle, and you will get the amount of interest earned.

10,309.12 - 6,000 = $4,309.12

Interest $ 4,309.12