SOLUTION: A newscaster earns $32,700 each year and wants to invest 10% of his/her monthly salary to save for retirement in 35 years. If he/she invests this money at 3.6% compounded monthly,

The monthly salary is $32700 per year, or 32700/12 = 2725 dollars per month.
10% of it is 0.1*2725 = 272.50 dollars monthly deposit.


I will assume that this person deposits  $272.50 dollars at the end of each month.


Then it is a classic Ordinary Annuity saving plan. The general formula for the future value is 


    FV = ,    (1)


where  P is the monthly payment (deposit); 
r is the monthly percentage yield presented as a decimal; 
n is the number of deposits (= the number of years multiplied by 12, in this case).


Under the given conditions, P = 272.50;  r = 0.036/12 = 0.003;  n = 12*35 = 420.  
So, according to the formula (1), the person will get at the end of the 35-th year


    FV =  = $228,789.    ANSWER