<h3>The balance in account after 3 years is $ 126.82</h3>
<em><u>Solution:</u></em>
<em><u>The formula for compound interest, including principal sum, is:</u></em>
Where,
A = the future value of the investment
P = the principal investment amount
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per unit t
t = the time the money is invested
From given,
p = 100
t = 3 years
r = 8 % = 8/100 = 0.08
n = 4 times
Therefore,
Thus the balance in account after 3 years is $ 126.82