The formula for compound interest is A=P(1+rn)ntA=P(1+nr​)nt, where:

• $P$ is the principal amount
• $r$ is the annual interest rate (in decimal)
• $n$ is the number of times interest is compounded per year
• $t$ is the time in years

Code Example:

def compound_interest(principal, rate, time, compounded_yearly):
    amount = principal * (1 + rate / compounded_yearly) ** (compounded_yearly * time)
    return amount

# Example: $1000 at 5% annual interest, compounded annually for 10 years
print(compound_interest(1000, 0.05, 10, 1))

This function calculates the amount after the given time period and returns the total amount, including the principal and interest.