Sue deposited $3000 in a savings account earning 2% interest over 8 years, what was the total interest Sue earned?

amount = 3000(1.02)^8 = ...

subtract $3000 from that answer and you got your interest earned.

gsrd

To find the total interest Sue earned, we need to calculate the interest earned each year and then add it up over the 8-year period.

First, we calculate the interest earned per year. The formula to calculate the interest is:
Interest = Principal x Interest Rate

In this case, the principal is $3000 and the interest rate is 2%. We can convert the percentage to a decimal by dividing it by 100:
Interest Rate = 2% / 100 = 0.02

Now, we can calculate the interest earned per year:
Interest per year = $3000 x 0.02 = $60

Since Sue earned the same amount of interest each year, we can multiply the yearly interest by the number of years:
Total interest = $60 x 8 years = $480

Therefore, Sue earned a total interest of $480 over the 8-year period.