[tex]\bf \qquad \textit{Compound Interest Earned Amount}
\\\\
A=P\left(1+\frac{r}{n}\right)^{nt}
\quad
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to &\$8000\\
r=rate\to 10.5\%\to \frac{10.5}{100}\to &0.105\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{monthly, thus twelve times}
\end{array}\to &12\\
t=years\to &8
\end{cases}
\\\\\\
A=8000\left(1+\frac{0.105}{12}\right)^{12\cdot 8}[/tex]
