1. **State the problem:** Ricardo saves 35000 in a bank with 10% annual interest compounded quarterly for 4 years and 5 months. We need to find the amount he will have after this period. 2. **Formula used:** The compound interest formula is $$A = P \left(1 + \frac{r}{n}\right)^{nt}$$ where: - $A$ is the amount after time $t$, - $P$ is the principal (initial amount), - $r$ is the annual interest rate (decimal), - $n$ is the number of times interest is compounded per year, - $t$ is the time in years. 3. **Identify values:** - $P = 35000$ - $r = 0.10$ (10%) - $n = 4$ (quarterly compounding) - $t = 4 + \frac{5}{12} = \frac{48}{12} + \frac{5}{12} = \frac{53}{12} \approx 4.4167$ years 4. **Calculate:** $$A = 35000 \left(1 + \frac{0.10}{4}\right)^{4 \times \frac{53}{12}} = 35000 \left(1 + 0.025\right)^{\frac{212}{12}} = 35000 \times 1.025^{17.6667}$$ 5. **Evaluate exponent:** Calculate $1.025^{17.6667} \approx 1.5233$ 6. **Final amount:** $$A = 35000 \times 1.5233 = 53315.5$$ So, Ricardo will have approximately 53315.5 after 4 years and 5 months.