Calculate the final value of a deposit of $5000.00 invested at 3.00% per annum, compounded annually, for 2 years

Compound interest formula:      A  =  P(1 + r/n)^(n·t)

A = final amount              P = beginning amount = $5000.00               r = rate (as a decimal) = 0.03

n = number of times compounded each year = 1                                 t = number of years = 2

 A  =  P(1 + r/n)^(n·t)     --->      A  =  5000(1 + 0.03/1)^(1·2)      --->     $5304.50