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