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Compound Interest

Is there a formula that will calculate compound interest? Assuming 4%
interest each period, I can put the original dollar amount in cell A1, then
in cell B1 enter €œ=sum(A1*.04)+A1€, then in cell C1, €œ=sum(B1*.04)+B1€, etc.,
eventually arriving at the final answer but it takes up a lot of cells and is
pretty clunky.

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