Ashley puts \( \$ 2,677.00 \) into an account to use for school expenses. The account earns \( 8.01 \% \) interest, compounded annually. How much will be in the account after 4 years? Use the formula \( A=P\left(1+\frac{r}{n}\right)^{n t} \), where \( A \) is the balance (final amount), \( P \) is the principal (starting amount), \( r \) is the interest rate expressed as a decimal, \( n \) is the number of times per year that the interest is compounded, and \( t \) is the time in years. Round your answer to the nearest cent. \( \$ \square \)

To find the amount in the account after 4 years, we can use the formula \( A = P\left(1+\frac{r}{n}\right)^{nt} \). Here, - \( P = 2677 \) (the principal amount), - \( r = 0.0801 \) (the interest rate as a decimal), - \( n = 1 \) (interest is compounded annually), - \( t = 4 \) (number of years). Plugging these values into the formula: \[ A = 2677 \left(1 + \frac{0.0801}{1}\right)^{1 \times 4} \] \[ A = 2677 \left(1 + 0.0801\right)^{4} \] \[ A = 2677 \left(1.0801\right)^{4} \] \[ A = 2677 \times 1.36049060 \, \text{(approximately)} \] \[ A \approx 3632.83 \] So, the amount in the account after 4 years will be approximately \( \$ 3,632.83 \).