The principal is $28000 with rate 12% compounded yearly .
To determine the balance after 4 years,
[tex]SI=\frac{P\times R\times T}{100}[/tex][tex]SI=\frac{28000\times12\times4}{100}[/tex][tex]SI=13440[/tex]The balance in the account after 4 years is the sum of principal and simple interest.
[tex]A=\text{ 28000}+13440[/tex][tex]A=41440[/tex]Thus, the balance in the account after 4 years is 41440 dollar.
