Simple Interest question

You deposit $700 in an account with an annual interest rate of 4%. Calculate the amount of money you will have after 5 years.

Please show the working of how you got it.

Compound interest calculation which earns interest on interest

$700 x 1.04^5=$851.66

Simple interest calculation which only earns interest on the original amount

$700 x .04= $28 interest/year x 5 years= $140 +$700= $840

amount=S.I+PRINCIPLE
=P*R*T/100+PRINCIPLE
=$700*4%*5/100+$700
=$700*4*5+$700
=$14700

I = Prt

A = P + I
A = P + Prt
A = P(1 + rt)


A = 700(1 + .04 * 5)
A = 700 * 1.2
A = 840

$840.00

Find four percent of $700, then add it on.
Do it four times, but don't forget you get interest on interest.