If $1,000 is invested in an account that pays 5% interest compound annually, an expression that represents the amount in the account at end of 5 years can be given by which of the following equations?a. 1000(1.05)^5b. 1000(0.5)^5c. 1000+(0.5)^5

Hello! So the formula for compound interest is P(1 + r)^t, where r = rate, P = principal, and t = time (years). C is out, because you multiply the rate and principal together to get the price, not add. You raise the decimal to a certain power, based on the amount of years. You add 1 to the rate. 5% in decimal form is 0.05 and you must add 1 to the amount, which eliminated B. The only answer that works is A, because it shows the correct formula. The answer is A.