Identify the principal amount
Identify the annual interest rate
Identify the number of times interest is compounded per year
Identify the number of years
Use the formula A = P(1 + r/n)^(nt)
Substitute the values into the formula
Calculate the value inside the parentheses
Raise the result to the power of nt
Multiply by the principal
Subtract the principal from the final amount to find the interest earned