Xena deposits $$1,000$ in a bank account that pays $5\%$ interest. One year later, how much does she have in her bank account?

$c^{}$ compounding

$n^{}$ number of time periods

$i^{}$ interest rate

$P{V}^{}$ present value or the amount at time $t=0$

$PM{T}^{}$ annuity value

$F{V}^{}$ future value or the amount at the end or final time period

type $$ "ordinary annuity" $=$ PMT at beginning of each period vs "annuity due" $=$ PMT at end of each period

CPT ${?}^{}$ the value that is computed

How to compute using Excel?

$=$function$($ rate $,$ nper, pmt$,[$PV$],[$type$])$

$=FV(,|,-10)$