I'm not sure what this is called, but the application is in counting the number of nodes in a consistently branching structure.
For example, $5$ nodes branch into $5$ nodes each, each branching again, etc, $5$ times overall.
I think the math would be:
$5^1 + 5^2 + 5^3 + 5^4 + 5^5 = 3905$
I'm just looking for a better way of calculating this. I looked up exponent rules, and they did not cover this scenario.
This is known as a geometric series. Look up Geometric Series. Specifically if you want to find the sum of $a+ar+ar^2+\cdots+ar^{n-1}$, the formula is as follows: $$\sum_{k=0}^{n-1}ar^k=a\left(\dfrac{1-r^n}{1-r}\right)$$ where $r$ is the common ratio of the Geometric Progression.
For the specification you have mentioned, you just have to put in $\begin{bmatrix}a \\ r\end{bmatrix}=\begin{bmatrix}5 \\ 5\end{bmatrix}$.