Answer
$28,366.90
Work Step by Step
The formula is:A=P(1+$\frac{r}{n}$$)^{nt}$
P=20000 which is the start amount
R=0.035 which is the rate(3.5%) in decimal
N=12 because it is the number of times compounded per year.
T=10 which is the time.
Substitute:
A=20000(1+$\frac{0.035}{12}$$)^{12(10)}$
A=20000(1.41)
A=28366.90
There would be about $28,366.90 after 10 years
