Walters savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?

The answer is $350The formula is as follows: [tex]P(1+r/n) ^{nt} [/tex]P: Principal Amount : $273r: Rate of interest: 5%n: number of times the interest is compounded: 4 (Since Quarterly)t:  number of years : 5