rex deposited $1000 into an account that earns 5% compounded anually. How much interest will he have earned after 5 years?

rex deposited $1000 into an account that earns 5% compounded anually. How much interest will he have earned after 5 years?

Rex will have a total of $1,276.28 after 5 years, therefore,

1,276.28 - $1,000=$276.28 total interest earned in 5 years.

This is the formula used to calculate this:

FV=PV(1+i)^n, FV=Future value, PV=Present value, i=Interest rate per period, n=Number of periods

I cannot wait until you get an account, Guest helper.. 

So that all the stars ive been giving you and other people have,

Will show :D

ok thanks guest helper