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Sagot :
Apply compound interest formula:
A = P (1 + r/n) ^ nt
Where:
A = amount after the interest
P = Principal amount invested
r= interest rate in decimal form = 15/100 = 0.15
t= time
n= number of times interest is compounded per unit t
Replacing:
A = 100 (1 + 0.15/4)^5(4)
A = 100 (1+0.0375)^20 = $208.82
208.81-100 = $108.82
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