To solve this, we will use the formula for the future value of an investment compounded annually, which is:

$\text{Future Value} = \text{Present Value} \times \text{FVIF}(i, n)$

Where:

• Present Value = $3,110 (your initial investment)
• $i$ = 5% (the annual interest rate)
• $n$ = 30 years (the number of periods)

From the table, we look for the Future Value Interest Factor (FVIF) at 5% for 30 periods. According to the image:

$\text{FVIF}(5\%, 30) = 4.3219$

Now, calculate the future value:

$\text{Future Value} = 3,110 \times 4.3219 = 13,448.10$

So, the account will be worth $13,448.10 in 30 years.

Would you like a further breakdown of this calculation or have any other questions?

Here are five related questions you might consider:

1. What if the interest rate were 6% instead of 5%?
2. How does the future value change if the investment period is 20 years instead of 30?
3. How would compounding quarterly affect the future value?
4. How much would you need to invest today to reach $20,000 in 30 years at 5% interest?
5. What if the interest rate were compounded continuously instead of annually?

Tip: Compounding frequency greatly impacts the future value—more frequent compounding leads to higher returns.