$A=p(1+r)^t$ , where $A$ is the total amount after $t$ years $P$ is the principal, $t$ is the time in years , $r$ is the rate of interest compounded annually. Sheetal saves \$ 5,000 in a saving account which gives $2$ % interest compounded annually. Calculate interest sheetal will get after four years.Express your answer to the nearest whole number.

Using the compound interest formula A = P(1 + r)^t, we calculate the total amount as 5000(1.02)^4. Multiplying 1.02 by itself four times gives approximately 1.08243, which when multiplied by 5000 results in a total amount of 5412.16. Subtracting the original principal of 5000 from this total amount gives the interest earned, which is Rs. 412.

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