The amount of money A in an account with an interest rate r compounded 12 times a year, after t years and if a principal P is invested, is given by the formula:
Replace P=3,508, r=10/100 and t=4 to find the amount of money that the account will be worth after 4 years:
Therefore, to the nearest cent, the amount of money in the account after 4 years will be: