If $1,000 is invested in an account that pays 5% interest compounded annually an expression that represents the amount in the account at the end of five year
The formula for this is: A=P(1+r/n)^(nt) A = amount in the account P = amount you start with r = rate it is compounded t = time (in years) n = number of times per year
Since you are looking for A, you can solve right away. A = $1,000(1+0.05)^(5) A = $1276.28
