To calculate the value of David's investment in 4 years, we can use the following formula:
A = P(1 + r/n)^{nt}
where:
A is the final amount
P is the principal amount
r is the annual interest rate (in decimal form)
n is the number of compounding periods per year
t is the time in years
In this case, we have:
P = $44,000
r = 8% = 0.08
n = 12 (since David's investment is compounded monthly)
t = 4
Substituting these values into the formula, we get:
A = $44,000(1 + 0.08/12)^{12*4}
A = $57,846.33
Therefore, the value of David's investment in 4 years will be $57,846.33.
Note that we rounded our answer to the nearest cent, as instructed.