If you invest $1000 in a savings account with an annual interest rate of 5%, compounded annually, how much money will you have in the account after 3 years? Use the formula \(A = P(1 + r/n)^{nt}\), where \(A\) is the amount of money accumulated after \(n\) years, including interest. Let's think step by step and output the final answer within \boxed{}.
user