Answer:
Interest earned = $146,196.75
Step-by-step explanation:
A = $175,000
r = 3.2% = 0.032
n = 19
m = 12
FV = A*(1+i/m)^nm
FV = 175,000*(1+0.032/12)^19*12
FV = 175,000*(1+0.002667)^228
FV = 175,000*(1.002667)^228
FV = 175,000*1.83541
FV = $321196.75
Interest earned = $321,196.75 - $175,000
Interest earned = $146,196.75
