The capital Latin letter is used in math as a variable. For example, the symbol is often used to represent a point in the cartesian coordinate system. The symbol is also used in statistics to represent a probability distribution.
The Latin letter p.
A point represents a position in space. In modern mathematics, space is represented using the cartesian coordinate system where there is an origin and the position of a point in space is measured by its distance from the origin.
The compound interest formula calculates the growth of an initial value whose interest compounds over time. The frequency of when the interest is calculated and added to the initial amount can occur continuously,