Answer
The $4000 invested for 8 years (96 months) at a rate of 9.8% compounded monthly becomes $31,614,378.
Step-by-step explanation
Compound interest turns the initial amount A₀ invested at a rate of r% for time t into
A = A₀ (1 + r)ᵗ
A = Amount to be earned at the end of the time period
A₀ = Initial amount invested = $4,000
r = Rate = 9.8% = 0.098
t = 35 - 27 = 8 years
But the interest is compounded monthly, so we will convert the time into months
1 year = 12 months
8 years = 8 (12 months) = 96 months
t = 96 months
A = A₀ (1 + r)ᵗ
A = 4000 (1 + 0.098)⁹⁶
A = 4000 (1.098)⁹⁶
A = 4000 (7903.59)
A = $31,614,378
Hope this Helps!!!