Answer
$1190.34$ dollars
Work Step by Step
The compound interest formula is
$$A = P (1 + \frac{r}{n})^{nt}$$
Where A is the final amount, P is the initial balance, r is the interest rate, n is the number of times compounded per year, and t is the number of years that passes. Plug in the information given
$$A = 1000(1+ (0.035/4))^{20}$$
Here, n is 4 because it is compounded quarterly. Put this into a calculator and round to the nearest hundredth. The value you should get is
$1190.34$ dollars
