Answer:
$2,263.63
Step-by-step explanation:
You start with "if" but don't end with what your goal is. I will assume that you want to know how much you'll have to pay after 5 years to pay off this $1,000 loan.
Use the compound amount formula A = P(1 + r)^5. Replacing P with $1,000, r with 0.1775 and t with 5 years, we get the payoff balance
A = $1,000(1 + 0.1775)^5 = $2,263.63
