$4500 at 5.75%(2) for 5 years
I will assume that the 2 after 5.75% means that it is compounded semi-annually, or twice a year.
FV = PV [1 + R]^N
FV = 4,500 [1 + 0.0575/2]^5*2
FV = 4,500 [1 + 0.02875]^10
FV = 4,500 x 1.327695
FV = $5,974.63 Total balance of the account after 5 years.
$5,974.63 - $4,500 = $1,474.63 Total interest earned after 5 years.
