Hi, I've been thinking about this problem for about a week now, but I can't figure it out. The best way to explain it would be to use population growth as an example:

Say the population of a city is 1000. The population grows by 2% annually. What will the population be after 10 years?

Now, I could just go the long way and work out the population year by year (e.g it's 1020 after 1 year, then after the 2nd year it's 1040.4 etc), but there must be a quicker way - a formula or something.

Anyone know?