Compound interest is made easy with the following.

maturity value in `n` time periods `A = P (1+R)^n`

`=P(1+R)(1+R)(1+R)...n` times

Note: R is the (interest rate in percentage)/100.

The interest is calculated on the principal for each of the time period in `n`. That is, the principal for the second time period is the maturity value of first time period, and so on for subsequent time periods.

Once the above is understood, the equation is easily derived.

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