I would like to know the net sum over 50 years in principal and interest when the principal begins in year one at $3000, and $3000 is added annually, at an interest rate of 3% compounded annually.

I don't know how to do compounded interest when the additional principal amounts are added annually.

This is as far as I got on the interest:

In simple terms, just the interest over 50 years on the initial $3000 in the first year calculates to $10,152.... $9,769 is the amount of net interest over the subsequent 49 years on the $3000 in year two. The comparable figure at year 25 is $6281.

I don't know how to do compounded interest when the additional principal amounts are added annually.

This is as far as I got on the interest:

In simple terms, just the interest over 50 years on the initial $3000 in the first year calculates to $10,152.... $9,769 is the amount of net interest over the subsequent 49 years on the $3000 in year two. The comparable figure at year 25 is $6281.

## Comment