Franklin deposits $3500 in an account that earns 3.5% interest compounded annually. what function equation represents the balance of the account after t years?

So this problem can be solve using the formula:
F = P(1+i)^t
Where F is the balance account after t years
P is money deposited
i is the fraction interest rate  
F = 3500 (1+0.35)^t
F = 3500 (1.35)^t is the function equation represents the balance of the account after t years