You deposit $5000 in a bank account that pays $3.5 annual interest. Find the balance after 8 years if the interest is compounded quarterly. Round to the nearest cent.

This is what i found “an explicit formula designates the nth term of the sequence, as an expression of n (where n = the term's location). it defines the sequence as a formula in terms of n. this example is an arithmetic sequence(the same number, 5, is added to each term to get to the next term).” i hope this you for what your looking for. can you plz mark me brainliest?