What would the total amount of interest be collected on $67,000 plus 4% simple interest after 4 1/2 years?

Answer 1

when compounded $67,000 @ 4% for 4.5 years would be worth $80,189.56 so the inerest wound $13,189.56

Answer 2

1 st year = 2,680.00
2nd year = 2,787.20
3rd year = 2,898.69
4th year = 3,014.64
4.5 year = 1,567.61
total = 12,948.14 simple interest only