We have the following:
To calculate the total amount of money compounded monthly or quarterly we use the formula below n = number of times interest is compounded per year
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]where P is $100, r is 25% or 0.25 and n is 4, replacing:
[tex]\begin{gathered} A=100(1+\frac{0.25}{4})^{4\cdot4} \\ A=100\cdot1.0625^{16} \\ A=100\cdot2.648 \\ A=264.8 \end{gathered}[/tex]Therefore, in 4 years have $264.8
