math help plz, in description

Question

You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Round your answer to the nearest whole number.



$2,001


$2,050


$2,118


$2,287

Answer 1

A = P(1 + r/n)^nt

A = 1300(1 + .05/1)¹⁽¹⁰⁾

A = 1300(1.05)¹⁰

A = 1300(1.62889)

A = $2118