I can trying to create a formula that will total the price for annual increases. For example, if a price starts at $1,000 and increase by 7% annually for 5 years, what is the total price over 5 years. I can certainly calculate manually (see table below), but would like to be able to do it in one cell. How can I get to the value $5,750.74 with a formula that considers original amount ($1,000), term (5 years) and annual increase (7%)?
| Year | Price | Increase |
| Year 1 | $1,000.00 | |
| Year 2 | $1,070.00 | 7% |
| Year 3 | $1,144.90 | 7% |
| Year 4 | $1,225.04 | 7% |
| Year 5 | $1,310.80 | 7% |
| Total | $5,750.74 |
