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Suppose an investor deposits $3,319 in an interest-bearing account at her local bank. The account pays 2.12% interest compounded annually. If the investor plans on
Suppose an investor deposits $3,319 in an interest-bearing account at her local bank. The account pays 2.12% interest compounded annually. If the investor plans on withdrawing the original principal plus accumulated interest at the end of 8 years and no additional deposits have been made, what is the total amount that she should expect to receive assuming interest rates do not change?
Answer should be formatted as a dollar amount rounded to the nearest cent.
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