It's been a while since I've taken a math class, and I was hoping someone could help me out with an equation. I need to multiply a number by a particular rate for x number of years. So say 5 dollars at 20% compounded annually for 5 years. The manual way would just be to multiply 5 by 1.20 5 times, but I was hoping to get the actual equation. I vaguely remember parts of the equation, like !n= something something ^(n-1), but it's just been way too long, and I don't even have my old pre-calc text book. If someone can give me the name for this kind of equation for me to google, that'd be great too. Thanks a bunch, I hope someone can help.
See if any of these help. http://www.google.com/search?source...$5.00+at+20%+compounded+annually+for+5+years+
