Math work, need help!

Question

You deposit $2000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 25 years?

Answer 1

The formula for compound interest is A=P(1+r/n)^nt

^{A is the amount after _ years}

^{P is what you start with}

^{r is the interest rate}

^{n is the number of times compounded per year}

^{t is time}

2000(1+.05/1)²⁵ = $6772.71