Question: I need help answering the below question. Is there a formula? If $25,582 is invested today at an interest rate of 3.5 percent, compounded annually,

I need help answering the below question. Is there a formula?

If $25,582 is invested today at an interest rate of 3.5 percent, compounded annually, how much money will be in a savings account in 28 years?

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