Computation for compound interest is complicated as compared to simple interest. There are a lot of things to be considered and observed properly to avoid miscalculations of the future amount. Below is the formula to get the future amount for compound interest.
Future Amount = Principal X ` (1+ text(Rate per Period))^text(Number of Periods)`
Sometimes the future amount has non-terminating decimals simply because of the division used to calculate the rate of interest per period.If this happens so, round off the digits at least to the nearest hundredths.