How much interest is to be earned between the end of Year $2$ and the end of Year $7$ on a $$2,500$ deposit made today that earns $8\mathrm{.}80\%$ interest compounded annually?

Question $8$

Answer

a$.$

$$1,552$

b$.$

$$1,640$

c$.$

$$1,708$

d$.$

$$727$

e$.$

$$1,100$