Answer
${$117}$
Work Step by Step
The standard form of an exponential equation is $ab^{x}$, where a is the principal balance, b is the ratio, and x is time. So, because this is a 4% interest rate, the ratio is 1.04, or the balance increases by a common multiplier of 1.04 each year. The principal balance is given (${$100}$), and the time is given, (4 years).
So plugging this values in, we get $100(1.04)^{4} \approx {$117}$
