How do i simplify 4 over 12 times 8 over 20

Add 1/7 + -1/7 your answer should be reduced to its smallest form and should not be an improper fraction

The amount of money, in dollars, in an account after t years is given by a = 1000(1.03)^t. the initial deposit into the account was $_^a0 and the interest rate was _a1% per year. only enter numbers in the boxes. do not include any commas or decimal points^t. the initial deposit into the account was $__^a0 and the interest rate is % per year.

Answer question above and explain each step : )