\(A=P(1+ \frac{r}{n})^{nt}\)
A=future amount
P=present amount
r=rate in decimals
n=number of times per year it is compounded
t=time in years
P=50
r=0.05
n=1
t=t
\(A=50(1+ \frac{0.05}{1})^{(1)(t)}\)
\(A=50(1+0.05)^{t}\)
\(A=50(1.05)^{t}\)
the amount of money is \(50(1+0.05)^{t}\) after t years
