Question

Tammy Smith Deposits $5000.00 in First Internets Bank 5-year CD which pays 5.22% interest compounded monthly how much interest will she have in the account in 5 years?
I believe $1,305
I just did the math and that's what i got.
I got that also but its not correct and its driving me crazy
You used simple interest on a compound interest problem.

i = .0522/12 = .00435
n = 12(5) = 60

amount after 5 years
= 5000(1.00435)^60 = 6487.47

interest earned = 1487.47

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