Newborn child receives a $8,000 gift toward a college education from her grandparents. How much will the $8,000 ne worth in 19 years if its invested at 7%

Newborn child receives a $8,000 gift toward a college education from her grandparents. How much will the $8,000 ne worth in 19 years if its invested at 7% compounded quarterly?

 

FV=8,000[1 + .07/4]^(4*19)

FV=8,000[1.0175]^76

FV=8,000 x 3.7378....

FV=$29,902.38