How much was the interest of an investment with a future value of $36,920 and interest at 4% compounded monthly for a period of 2.5 years? Do not round off values in intermediate calculations.Round off only the final answer to the nearest dollar.Do not include currency sign in the answer.Number format: [Ex. 2,540]-No space between numbers-Use comma as thousands separator

To calculate the interest earned on an investment, we first need to find the initial principal amount. We can do this by using the formula for compound interest, which is:

A = P(1 + r/n)^(nt)

Where: A = the future value of the investment/loan, including interest P = the principal investment amount (the initial deposit or loan amount) r = annual interest rate (in decimal) n = number of times that interest is compounded per year t = the time the money is invested for in years

Given: A = $36,920 r = 4% or 0.04 (in decimal) n = 12 (as it is compounded monthly) t = 2.5 years

We can rearrange the formula to solve for P:

P = A / (1 + r/n)^(nt)

Substituting the given values:

P = 36920 / (1 + 0.04/12)^(12*2.5)

After calculating the above expression, we get the initial principal amount.

The interest earned is then calculated by subtracting the initial principal from the future value.

Let's calculate it.