The rule of the compounded interest is

A is the new amount
P is the initial amount
r is the rate in decimal
n is the number of periods per year
t is the time in years
Since the initial amount is $4500, then
P = 4500
Since the interset is 8% yearly, then
r = 8/100 = 0.0
n = 1
For 1 year t = 1, for two years t = 2
Let us find the new amount in the 2 cases

The amount in the account at the end of one year is $4860

The amount in the account at the end of two years is $5248.8