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

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