How to Calculate Interest in a Variable Interest Account?

AI Thread Summary
To calculate the amount in a variable interest account where the interest increases annually, a general formula can be derived. The formula accounts for the initial deposit and the cumulative interest over the years, with each year's interest rate increasing by 1%. The final amount after n years can be expressed as a function of the initial deposit and the sum of the interest rates. The discussion concludes with the user finding the solution shortly after posting.
DjDukes
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Is there a simple formula to find the amount of money in an account given a situation like this...

You deposit x into the account
Each year you get interest
Year one the interest is 1%
Year two the interest is 2%
Year three the interest if 3%
and so on

Is it possible to get a simple general formula for the amount of money in the account at the end of any year n?
 
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DjDukes said:
Is there a simple formula to find the amount of money in an account given a situation like this...

You deposit x into the account
Each year you get interest
Year one the interest is 1%
Year two the interest is 2%
Year three the interest if 3%
and so on

Is it possible to get a simple general formula for the amount of money in the account at the end of any year n?

Never mind I got it like 5 mins after posting.
 
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