Answer
${{\$}} 108.29 $
Work Step by Step
Apply the Compound Interest Formula Theorem
The amount A after t years due to a principal P
invested at an annual interest rate r, expressed as a decimal,
compounded n times per year
is $A=P\displaystyle \cdot\left(1+\frac{r}{n}\right)^{nt}$
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Given: $P=100, r=0.04, n=4, t=2,$
$A=100\displaystyle \cdot\left(1+\frac{0.04}{4}\right)^{8}\approx{{\$}} 108.29 $
