FV= PV(1+i/n)c*n
(1.089/12)12*5
(0.09075)60
0.09075*60=
5.445
WoW!
I recognize the formula
Future Value = Present Value (1 + i/n)^(cn)
where n is the frequency of compounding per year and c is the number of years
from your (1.089/12)12*5
I gather that the interest rate was 8.9 % per annum compounded monthly , for a time of 5 years
and you want the future value of $1.00 with that data.
after that it just becomes jibberish.
i/n = .089/12 = .007416666... (store in your calculator's memory to maintain accuracy)
FV = 1 (1 + .00741666..)^(5(12))
= (1.007416666...)^60
= 1.5579
or
$1.56