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.
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.
A = P (1 + r/n)nt
As n approaches infinity (continuous compounding)
A approaches P ert
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)
Exponential Limit - Limit of (1+1/n)^n = e, etc.
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