Given:
P= 5000
r= 3.5%
n=4 and t= 8
The formula as follows:
[tex]\begin{gathered} F=P\times(1+\frac{r}{n})^{nt} \\ =5000\times(1+\frac{\frac{3.5}{100}}{4})^{4\times8} \\ =5000\times(1+\frac{0.035}{4})^{32} \\ =6607.59676 \end{gathered}[/tex]equired answer is 6607.60.
