Here are the formulas for the growth of an amount of money deposited in
an interest-bearing account. The initial deposite is P, which grows to A
by the end of the term of deposit.

Let

P = principle amount

r = interest rate (per year)

t = number of years

n = compounding frequency (number per year)

A = total principle plus interest accumulated during this time.

Then

A = P (1 + r/n)^{nt}

As n approaches infinity (continuous compounding)

A approaches P e^{rt}

### Internet references

Math League: Percent and Probability (Percent, ...as a fraction, ...as a decimal,
Estimating percents, Interest, Simple interest, Compound interest, Percent
increase and decrease, Percent discount, Chances and probability, Possible
outcomes of an event)

### Related pages in this website

Exponential Limit - Limit of
(1+1/n)^n = e, etc.

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Graeme McRae.