If simple interest is paid:
Interest=Pit = 1675*0.046*4=308.20
If compounded annually
Interest=P[(1+i)^t-1]=1675*(1.046^4-1)=330.13
If compounded monthly
Interest=P[(1+i/12)^(t*12)-1]=1675*((1+0.046/12)^(4*12)-1)=337.67
Please be sure to specify the type of interest and compounding period if it is compound interest.
