If $870 is invested in an account that earns 24.25%, compounded annaually, what will the account balance be after 30 years.

P = Po(1+r)^n.

r = 24.25% / 100% = 0.2425 = Annual %
rate expressed as a decimal.

n = 1Comp/yr & 30yrs. = 30 Compounding
periods.

P = 870(1.2425)^30 = $58,669.34.