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Charlotte opened a savings account and deposited $\$800.00$ as principal. The account earns $8\%$ interest, compounded annually. What is the balance after $10$ years?$\newline$Use the formula $A = P(1 + \frac{r}{n})^{nt}$, where $A$ is the balance (final amount), $P$ is the principal (starting amount), $r$ is the interest rate expressed as a decimal, $n$ is the number of times per year that the interest is compounded, and $t$ is the time in years.$\newline$Round your answer to the nearest cent.