Complete parts (a) and (b) below. a. If $\$ 30,000$ is invested at $9 \%$, compounded annually, find the future value in 8 years. $\$ \square$ (Simplify your answer. Round to the nearest cent as needed.)

Step 1 ：Given that the principal amount (P) is \$30,000, the annual interest rate (r) is 9% or 0.09 in decimal form, the number of times that interest is compounded per year (n) is 1 (since the interest is compounded annually), and the number of years the money is invested for (t) is 8 years.

Step 2 ：We can use the formula for compound interest to find the future value (FV) of the investment. The formula is: \(FV = P \times (1 + \frac{r}{n})^{nt}\)

Step 3 ：Substitute the given values into the formula: \(FV = 30000 \times (1 + \frac{0.09}{1})^{1 \times 8}\)

Step 4 ：Simplify the expression to get the future value: \(FV = 59776.8792507058\)

Step 5 ：Round to the nearest cent to get the final answer: \(\boxed{59776.88}\)