Algebra-1

Question Analysis
This question tests the student's ability to apply the compound interest formula to calculate the future value of an investment. The key elements are the principal, the annual interest rate, the compounding frequency, and the time period.

Key Concept Explanation
The compound interest formula is given by , where:
is the final amount (future value),
is the initial principal,
is the annual interest rate (as a decimal),
is the number of times interest is compounded per year,
is the time the money is invested for, in years.

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