Calculation Total Production Across Last 5 Years with Percentage Increases Each Year

Question

What is a formula that would calculate the below math problem.

 

If a factory currently produces 10 widget annually & can increase production by 15% each year, how many widgets will he have produced in TOTAL across the LAST 5 YEARS.

 

Variables:

Widgets

Percent Increase Annually

Total Years

 

Output: 

Total Widgets Produced Across the Duration

Answer 1

10∑(1/1.15ⁿ);   n:  0, 1, 2, 3, 4