Pre calc help please!! show work

Question

 After 4 years, what is the total amount of a compound interest investment of $30,000 at 2% interest, compounded monthly?

Round to the nearest cent.

Answer 1

the underlying compound interest formula that you want to use to solve this one is

A = P(1 + r/n)^nt

for this scenario that means

A = 30000(1 + 0.02/12)^(12*4)

A = 30000(1.00166)^48

A = 32496.45

meaning that the final balance here is $32,496.45

Answer 2

Using A=P(1+r/n)^nt

A = 30000(1+0.02/12)¹²⁽⁴⁾ = 30000(1.0016667)⁴⁸ = $32496.45