Question

$3,500 at 4% compounded annually for 8 years

Answer 1

The answer is $4,789.99

Answer 2

$3,500 at 4% compounded annually for 8 years

To find multiplier: 4%+1=1.04

3500 x (1.04)^8

^8 because there are eight years :)

3500 x (1.04)^8= 4789.99167642

To 2dp, this would be $4789.99

Hope this helps xox :)