Question

Find the amount accumulated after investing a principle P for T years at an interest rate compounded annually.

Answer 1

Ohhh  man, that's a nice hint, let's use it then

$\bf \qquad \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \qquad \begin{cases} A=\textit{compounded amount}\\ P=\textit{original amount deposited}\to &\ 3200\\ r=rate\to 8\%\to \frac{8}{100}\to &0.08\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, meaning once} \end{array}\to &1\\ t=years\to &4 \end{cases}$

Answer 2

A=3,200×(1+0.08)^(4)
A=4,353.56