Solution - Compound interest (basic)

5626.80

5626.80

Step-by-step explanation

Use $A = P {(1 + r / n)}^{(n t)}$ with $P = 4, 170$ , $r = 1 %$ , $n = 4$ , $t = 30$ .

Compute period rate and exponent: $\frac{r}{n} = 0.0025$ , $n t = 120$ , so the growth factor is $1.3493535472$ .

Multiply principal by growth factor: $4, 170$ × $1.3493535472$ = $5626.80$ .

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Compound interest appears in savings, loans, and investments. Understanding it builds strong financial literacy.