Find the compound amount for the deposit and the amount of interest earned.

$1000

at

4

%

compounded

annually

for

2

years

The compound amount after

2

years is

$nothing

.

(Do not round until the final answer. Then round to the nearest cent as needed.)

The amount of interest earned is

$nothing

.

(Do not round until the final answer. Then round to the nearest cent as needed.)