Answer
$INT=\$ 400$
$FV=\$ 1,400$
Work Step by Step
The simple interest on an investment (or loan) of $PV$ dollars at an annual interest rate of $r$ for a period of $t$ years is
$INT=PVrt$.
We are given: PV=1,000, t=10 (year), r=0.04 (4%).
Substitute into the formula:
$INT=1000(10)(0.04)=400$ (dollars)
The future value of an investment of $PV$ dollars at an annual simple interest rate of $r$ for a period of $t$ years is $FV=PV(1+rt)=PV+INT$ .
Here, $FV=1,000+400=\$ 1,400$