Answer:
[tex]I=\text{ \$187.62}[/tex]Step-by-step explanation:
Compounded interest is represented as;
[tex]\begin{gathered} A=P(1+\frac{r}{n})^{nt} \\ \text{where,} \\ P=\text{ principal } \\ r=\text{ interest rate} \\ n=\text{ times compounded per unit time} \\ t=\text{ time in years} \end{gathered}[/tex]Therefore, for a principal of $300 at 7% per annum compounded quarterly;
[tex]\begin{gathered} A=300\cdot(1+\frac{0.07}{4})^{4\cdot7} \\ A=487.62 \\ \text{Then, the interest due would be the subtraction of A-P} \\ I=487.62-300 \\ I=\text{ \$187.62} \end{gathered}[/tex]