Simple Interest:
Simple Interest = Principal x Rate x Time ---> 20000 x 0.06 x 4 = 4800.00
Total Value = $20,000.00 + $4,800.00 = $24,800.00
Compound Interest:
A = P(1 + r/n)n·t
Where A = Total Amount P = Principal = 20000 r = yearly rate (as a decimal) = 0.07
n = number of times compounded per year = 4 t = number of years = 4
A = 20000(1 + 0.07/4)4·4 = 20000(1 + 0.0175)16 = $26,398.59
Combine these figures for the final answer ...