Answer / rishabh8888

If the interest is compounded once a year:

A = P(1 + r)n

If the interest is compounded q times a year:

A = P(1 + r/q)nq


Where,
P is the principal (the money you start with, your first
deposit)
r is the annual rate of interest as a decimal (5% means r =
0.05)

n is the number of years you leave it on deposit

A is how much money you've accumulated after n years,
including interest.

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