A Compound interest is the interest that is earned on both the principal amount together with its interest and this continues to grow based on any other previously earned interest and principal.
A = 〖p(1+r/n)〗^(n×t)
Where:
A: is the total amount of money at the end of the time period which is including the principal and interest
P: is the principal amount
R: is the annual interest rate
n: refers to the number in which interest is compounded per year
t: Is the number of years