A sequence of yearly payments of P dollars is invested at the end of each of N

Question:

A sequence of yearly payments of P dollars is invested at the end of each of N years at interest rate i, compounded annually. The total amount in the account, or the amount of the annuity, is V.
a) Show that

b) Suppose that interest is compounded n times per year and deposits are made every compounding period. Show that the formula for V is then given by

A sequence of yearly payments of P dollars is invested

Compounding
Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will...