Answer:
To solve this problem, we can use the formula for compound interest:
A = P(1 + r/n)^(n*t)
Where:
A = the amount of money in the account after the specified time period
P = the initial principal amount (the amount deposited)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the time period in years
In this case:
P = £4100
r = 13.55% = 0.1355
n = 1 (interest is compounded once per year)
t = 4 years
Plugging these values into the formula, we get:
A = £4100(1 + 0.1355/1)^(1*4)
A = £4100(1.1355)^4
A = £4100(1.6398)
A = £6717.58
Therefore, the amount of money in the account after 4 years will be £6717.58.