How do I do this math problem?

End of year 1: 5000 * 1.04 = $5200.00
End of year 2: 5200 * 1.04 = $5408.00
End of year 3: 5408 * 1.04 = $5624.32
End of year 4: 5624.32 * 1.04 = $5849.29

Short method: 5000 * 1.04^4 = $5849.29.

Note: The $ comes BEFORE the number, so $5000, not 5000$
(this prevents people on a written check from changing 5000$ to so 15000$ so is a "check protect" thing).

n

Hi,
Simple interest, as you have indicated, is calculated with the following formula:
I = PRT
But we need to add the principal to get the amount, A. So, A is calculated as follows:
A = P +PRT
=P(1+RT)
=5000*1 +5000(.04)5
=6000

formeng