Algebra-1

Question Analysis
This question evaluates the student's ability to use the compound interest formula to determine the final amount after a given period. It requires careful substitution and calculation.

Key Concept Explanation
The compound interest formula is , where is the final amount, is the initial principal, is the annual interest rate, is the number of times interest is compounded per year, and is the time in years.

Step-by-step Solution
1. Identify the given values: , , , and .
2. Substitute these values into the compound interest formula:

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