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Compound Interest Formula adding annual contributions

The question was that a sum would be invested each year and the interest would computed annually. The first deposit was to be made at the start of the first year and the second deposit, and those thereafter, would be made at the end of each year; the answer being in two parts.

I would think that the second part would need to be reviewed in that the n used in the second part should be n-1 since one year has already gone by?

A separate question - I would like the equation for a sum invested each year at the end of the year but with interest compounded monthly.

torisemo
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  • That the first payment has been made at the start of the first year has been regarded by the factor $(1+i)$. At you still have n payments. – callculus42 Dec 18 '21 at 20:17
  • I understood the statement that at the start of the first year an initial deposit was and that every year after a deposit was made at the end of the year. So year one Jan 1st a deposit is made and the deposit tow is made Dec 31st of the second year and Dec 31st for the remaining years. – torisemo Dec 21 '21 at 21:34
  • @ I would say that the second payment is made at Jan 1st as well-next year, and so on. – callculus42 Dec 22 '21 at 00:54

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