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May 27, 2016
Posted by **Greg** on Wednesday, July 24, 2013 at 6:33am.

- Finite Math -
**Graham**, Wednesday, July 24, 2013 at 10:27amThe amount at period n is the amount at period n-1 plus interest earned on that plus the periodic payment.

x[n] = x[n-1](1 + I) + P

x[n] = x[n-2](1+I)^2 +((1+I)^2 -1)P/I

x[n] = x[n-3](1+I)^3 +((1+I)^3 -1)P/I

...and so on...

x[n] = x[0](1+I)^n + ((1+I)^n -1)P/I