CPM Homework Help : ACC7 Problem 8-35

Daniel has $$1200$ in the bank. He is earning $3.5\%$ compound interest each month. How much money will he have in the bank in one year? Is this example of linear or non-linear growth?

Hint:

${\it A} = {\it P}(1 + {\it r})^{\it n}$

where:
A = total amount including previous interest earned
P = principal
r = interest rate for each compounding period
n = number of time periods

Step:

$A = 1200\left(1 + 0.035\right)^{12}$