If $3,000.00 is deposited into an account paying 3% interest compounded annually (at the end of each year), how much money is in the account after 4 years? (Round to the nearest cent.)

$3000.00 x (1.03)^4 = $3376.53

To find out how much money is in the account after 4 years, we can use the formula for compound interest:

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

Where:
A = the final amount of money
P = the principal amount (initial deposit)
r = the annual interest rate (as a decimal)
n = the number of times that interest is compounded per year
t = the number of years

In this case, we have:
P = $3,000.00 (the initial deposit)
r = 3% = 0.03 (as a decimal)
n = 1 (compounded annually)
t = 4 (4 years)

Plugging these values into the formula, we get:

A = 3000(1 + 0.03/1)^(1*4)

Simplifying the equation:

A = 3000(1.03)^4

Calculating:

A ≈ 3000 * 1.1255

A ≈ $3,376.50

Therefore, after 4 years, there will be approximately $3,376.50 in the account.