Question

Use the compound interest formula to compute the total amount accumulated. $10,000 for 20 years at 5% compounded annually

Answer 1

The compound interest formula is
\[A=P(1+\frac{ r }{ n })^{nt}\]
where A is total amount in end, P is principal or the amount to begin with, r is the rate, n is the number of times within t that it is compounded, and t is the time

So to set yours up you'd have\[A=10000(1+\frac{ 1.05 }{ 1 })^{1*20}\]
Note that your rate is not 0.05, because that would mean the rate is decreasing your money, what it actually is is 100% of your money, plus 5% of that, hence the 1.05

All that you need to do then is simplify or plug into your calculator