If $1,000 is invested at 5% compounded annually, the amount A present after n years forms a

Question:

If $1,000 is invested at 5% compounded annually, the amount A present after n years forms a geometric sequence with common ratio 1 + 0.05 = 1.05. Use a geometric sequence formula to find the amount A in the account (to the nearest cent) after 10 years. After 20 years.

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