To save for a car when he turns 18, Pascale deposited $500 each year into a savings account with a 7.5% interest rate compounded annually.YearBeginning BalanceInterest EarnedEnding Balance1$500.00$37.50$537.502$1,037.50$77.81$1,115.313$1,615.31$121.15$1,736.464$2,236.46$167.73$2,404.195 Using the formula , what is the value of the account at the end of the fifth year?