Compound interest is an example of exponential growth.
A = the Response area
P = the Response area (the initial deposit)
r = the annual Response area rate (expressed as a Response area)
n = the number of Response area interest is compounded per year
t = the time in Response area
The formula for compound interest is:
A = P(1 + r/n)^(nt)
This formula takes into account the initial deposit (P), the annual interest rate (r), the number of times interest is compounded per year (n), and the time in years (t). By plugging in these values, you can calculate the total amount of money you will have after a certain period of time with compound interest.