The compound interest formula is in the next textbox, where

Last updated: 7/4/2022

The compound interest formula is in the next textbox, where R is the future value of the investment, r is the annual interest rate (as a decimal), n is the number of times interest is compounded each year, t is the number of years the principle is invested, and P is the principle which represents the original amount of money invested. Mary invested $1000 at 5% annual interest in an account that compounds interest 4 times per year. If she kept her money in the account for 5 years, how much will her future value be? P(1 + r/n)nt = R I don't know. $11,057.33 $1,250.00 $2413.16 $5,254.73 $1,525.47 $1,282.04