If an Amount of Money $P$ Is Deposited Annually For $t$ Years into an Account with an Interest Rate

Short Answer

If an amount of money $P$ is deposited annually for $t$ years into an account with an interest rate $r$ ,it will accumulate to a value $V$ according to the equation $V=P\left(\frac{(1+r)^{t}-1}{r}\right)$ . If someone pays $\$ 5000$ annually, what will the value of the account be after 20 years?