Interest-on-Interest Consider a $2,400 deposit earning 11 percent interest per year for 8 years. How much total interest is earned on interest (excluding interest earned on the original deposit)?

a) $211.20

b) $3,130.89

c) $1,018.89

d) $2,112.00

2. Interest-on-Interest Consider a $1,400 deposit earning 8 percent interest per year for 11 years. How much total interest is earned on the original deposit (excluding interest earned on interest)?

a) $123.20

b) $594.35

c) $1,826.35

d) $1,232.00