An ordinary annuity has a value of 133385 at the end of 4 ye

An ordinary annuity has a value of $1,333.85 at the end of 4 years when $150 is deposited every 6 months into an account earning 6% compounded semiannually. How much interest has been earned?

Please show work

Solution

Amount at the end of 4 year = 1333.85

Total Deposit = 150*(4*2)

Total Deposit = 1200

Interest has been earned = 1333.85-1200

Interest has been earned = $ 133.85

Answer

Interest has been earned = $ 133.85