ANSWER:
$ 241848.33
STEP-BY-STEP EXPLANATION:
Given:
P = $4000
r = 3% = 3/100 = 0.03
n = 35 years
The formula for the future value is:
[tex]\begin{gathered} FV=P\mleft(\frac{\left(1+r\right)^n-1}{r}\mright) \\ \text{ replacing} \\ FV=4000\cdot\mleft(\frac{\mleft(1+0.03\mright)^{35}-1}{0.03}\mright) \\ FV=241848.33 \end{gathered}[/tex]
Therefore, after 35 years, he would have $ 241848.33 in the account.
