Answer
$INT=\$ 277.75$
$FV=\$ 10,377.75$
Work Step by Step
The simple interest on an investment (or loan) of $PV$ dollars at an annual interest rate of $r$ for a period of $t$ years is
$INT=PVrt$.
We are given:
PV=$10,100$,
t=$0.25$ ( 3 months = $ \frac{3}{12}=\frac{1}{4} $=0.25 year),
r=$0.11$ ($11$%).
Substitute into the formula:
$INT=10100(0.11)(0.25)=$277.75 (dollars)
The future value of an investment of $PV$ dollars at an annual simple interest rate of $r$ for a period of $t$ years is $FV=PV(1+rt)=PV+INT$ .
Here, $FV=10,100+277.75=\$ 10,377.75$
