How much interest, in total, did her account earn?  Round your final answer to the nearest cent.




To find the total interest earned, we can subtract the total amount of money deposited from the future value of the annuity.

### Step 1: Calculate the total amount deposited
- Sue deposits $200 every month for 30 years.
- Total deposits = $ 200 \times 360 $

### Step 2: Subtract the total deposits from the future value to get the total interest earned

\[
\text{Total Interest} = \text{Future Value} - \text{Total Deposits}
\]

Let's calculate that.The total interest earned over the 30 years is **$74,479.25** when rounded to the nearest cent.

Do you have any further questions or would you like more details?

Here are 8 related questions:
1. How would the interest earned change if the deposit amount was $300 per month?
2. What would be the total interest earned with an interest rate of 5%?
3. How does the interest earned compare to the total amount deposited?
4. What would happen to the total interest if the investment duration was only 20 years?
5. How does monthly compounding compare to yearly compounding in terms of interest earned?
6. What would the total interest be if Sue started with an initial lump sum deposit?
7. How does inflation impact the real value of the interest earned over time?
8. What strategies could Sue use to minimize taxes on the interest earned?

**Tip:** Regularly reviewing and adjusting investments can help maximize returns while aligning with financial goals.

Learn how to calculate the total interest earned on monthly deposits over 30 years. This problem involves the future value of annuities and interest calculation. Detailed step-by-step solution provided. Suitable for advanced high school or college students.

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