The payments made in a sinking fund are $5,000 at the end of each quarter for 3 years. Assume the interest...

3. The payments made in a sinking fund are $5,000 at the end of each quarter for 3 years. Assume the interest rate is 10% compounded quarterly.
Calculate the interest earned at the end of Period 2.
Period | Amount of Deposit | Interest Earned | Account Balance
1 | $5,000 | $0.00 | $5,000
2 | $5,000 | ?? |
3 | $5,000 | |
4 | $5,000 | |
$125
$500
$12.50
$12,500