Using the compound interest formula:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
Where:
P = Principal = $14000
r = interest rate = 8% = 0.08
t = time = 12
n = Number of times interest is compounded = 4
Therefore:
[tex]\begin{gathered} A=14000(1+\frac{0.08}{4})^{4\cdot12} \\ A=36218.99 \end{gathered}[/tex]
