Gina invested $10,000 at 2% interest compounded annually over 2 years. if the total amount in the account after 2 years is $10,404, how much interest did gina earn?

Interest earned = 10,404 - 10,000

=$ 404 is the interest earned

see explanation

step-by-step explanation:

since the sequence is geometric there is a common ratio r between consecutive terms, that is

r = 4 ÷ - 2 = - 2

r = - 8 ÷ 4 = - 2

r = 16 ÷ 8 = - 2

the next term - 13 must be incorrect as it should be - 32 for the sequence to be geometric.

the first 4 terms are therefore geometric with common ratio r = - 2