Question 1143336
formula for discrete compounding is f = p * (1 + r) ^ n


f is the future value
p is the present value
r is the interest rate per time period
n is the number of time periods.


your time periods are in quarters.


p = 18,200
r = 4.8% / 4 = 1.2% per month / 100 = .012 per quarter.
the formula requires interest rate, not interest rate percent.
interest rate percent / 100 = interest rate.
n = 5 years * 4 = 20 quarters


formula becomes f = 18200 * (1 + .012) ^ 20 = 23103.70539533.


the interest earned is equal to f - p = 23103.70539533 - 18,200 = 4903.70539533.


that's your solution.