A person makes annual payments of $$1,000$ into an ordinary

annuity. At the end of $5$ years, the amount in the annuity is

$$5,840.$ What annual nominal compounding rate has this

annuity earned? I know the answer is $7\mathrm{.}77\%$ but I don't know the fomula was used to have that, pls give a specific fomula for this problem. $($by using Desmos$)$