+290 The compound interest formula is \(P=C(1+r/n)\)^\(nt\), where P is the final value, C is the initial deposit, r is the interest rate, n is how frequently interest is paid, and t is how many years the money is invested.
We know that \(C=3200, r=0.13, t=8, \) and \(n=1\), so we can now solve for P, the final value.
Plugging in the values, we get:
\(P=3200(1+0.13)^8\)
\(P=3200(1.13)^8\)
\(P=3200\cdot2.6584441929064321\)
\(P=7975.3325787192963\)
\(P=$7975.33\)
The final value is \($7975.33\)
Answer: $7975.33
