Hoping someone can help - it was my daughter's homework but she couldn't do it and now its just nagging at me. It is compound interest which I could work out on a yearly basis but what if this investment went on for 50 or 60 years. There must be a formula that I can use?
So, if you invest £100 at 5% interest and at the end of each year you add another £100 ie at the end of year 1 you would have £205.
Ant mathematical stars out there?