Lennon is depositing $1,250 in a bank account that earns 4% compounded annually . After 2 years , how much will Lennon have in his account ?

Welp life just is hard

This is what i found “an explicit formula designates the nth term of the sequence, as an expression of n (where n = the term's location). it defines the sequence as a formula in terms of n. this example is an arithmetic sequence(the same number, 5, is added to each term to get to the next term).” i hope this you for what your looking for. can you plz mark me brainliest?