Answer:
$412.92
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
[tex]A=P(1+\frac{r}{n} )^{nt}[/tex]
P = initial balance
r = interest rate
n = number of times compounded annually
t = time
The first step is to change 4% into its decimal form:
4% -> [tex]\frac{4}{100}[/tex] -> 0.04
Now plug in the values:
[tex]A=300(1+\frac{0.04}{12})^{(12)8}[/tex]
[tex]A=412.92[/tex]
It would be worth $412.92
