\(A=P(1+ \frac{r}{n})^{nt}\)
A=end amount
P=present amount
r=rate in decimal
n=number of times per yaer compounded
t=time in years
given
P=1000
r=0.08
n=1
t=35
\(A=1000(1+ \frac{0.08}{1})^{(1)(35)}\)
\(A=1000(1+ 0.08)^{35}\)
\(A=1000(1.08)^{35}\)
A=14785.344
roud
about $14785.34
