An investment of $6,599.20 earns 4.2% interest compounded monthly over 7 years. Approximately how much interest is earned on the investment?

Use the compound-interest formula: A = P(1 + r/n)^(nt). Here, A = 6,599.20(1 + 0.042/12)^(12×7) ≈ $8,850.16, so the interest earned is about $8,850.16 − $6,599.20 = $2,250.96. The correct choice is $2,250.96.

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