25,110.51 is the total amount accrued over the course of 4.5 years, principle plus interest, on a principal of 16,100.00.
<h2>Compound interest calculation</h2>We may employ the compound interest future value formula provided by:
Where A is the final amount, P stands for the current value,
r=interest rate, n represents how many times interest is compounded annually, and t represents the number of years.
In this case,
P= 16100
r = 10%
t = 4 years and 6 months=4.5 years
n=4
So, A=
A=
A= 25110.51
So, 25,110.51 is the total amount accrued over the course of 4.5 years, principle plus interest, on a principal of 16,100.00 at a rate of 10 percent per year compounded four times each year.
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