Answer
$y=35,000(1.04)^t$.
Work Step by Step
Initial value $a=\$35,000$
Rate of growth $r=4\%=0.04$
The exponential growth function is
$\Rightarrow y=a(1+r)^t$
Substitute $35,000$ for $a$ and $0.04$ for $r$.
$\Rightarrow y=35,000(1+0.04)^t$
Simplify.
$\Rightarrow y=35,000(1.04)^t$.
