Answer
$ \$ 108.29$
Work Step by Step
Recall:
$A = P \left(1+\dfrac{r}{n} \right)^{n t}$
where
$P:$ The principal amount
$r:$ Annual interest rate
$n:$ Number of compoundings per year
$t:$ Number of years
$A:$ Amount after $t$ years
The given problem has:
$P= \$ 100, r=0.04, t = 2$
$\text{Compounded quarterly} \to n = 4$
Thus, using these given values and the formula above gives:
$A = 100 \left(1+\dfrac{0.04}{4} \right)^{4 \times 2}$
$A \approx \$ 108.29$
