A bank account earns 3% interest per year. If you deposit $1,000 into the account, what equation would you use to determine how much will be in the account after 5 years?(1 point) Responses y=1,000(1.03)5 y equals 1,000 left parenthesis 1.03 right parenthesis superscript 5 baseline y=5(0.03)1,000 y equals 5 left parenthesis 0.03 right parenthesis superscript 1,000 baseline y=5(1.03)1,000 y equals 5 left parenthesis 1.03 right parenthesis superscript 1,000 baseline y=1,000(0.03)5

Answer 1

y=1,000(1.03)^5