Question 363822
We use the formula for compound interest with P = 40,000 ; r = 5% = 0.05 ; m = 1 and t = 7.

The amount of the money in the account after 7 years:

     A = P * ( 1 + r/m )^(t*m)
       
       = 40,000 * ( 1 + .05/1 )^(7*1)
       
       = $56,284