Start with 100. Add 10%. Take the new total (110) and add 10% to that (121). Keep adding 10% of the current total daily for a year. What's the final total?

Question

Is there a simple way to calculate this type of problem?

Answer 1

The final total is 100(1.01)³⁶⁵ = 1.28331*10^17.

100(1.1)^t, t is the numer of periods (with 10%).