margaret Hillman invested $4,000 at 1.2% compounded quarterly for one year. find the futrue value and the interest earned for the year

Answer 1

FV=4000(1.02)

interest earned: .02*4000

Answer 2

i = .012/4 , (compounded quarterly)
= .003
n = 4

amount = 4000(1.003)^4 = 4048.22

interest earned = $48.22