I understand how combinations and permutations work (without replacement). I also see why a permutation of $n$ elements ordered $k$ at a time (with replacement) is equal to $n^{k}$. Through some browsing I've found that the number of combinations with replacement of $n$ items taken $k$ at a time can be expressed as $(\binom{n}{k})$ [this "double" set of parentheses is the notation developed by Richard Stanley to convey the idea of combinations with replacement].
Alternatively, $(\binom{n}{k})$ = $\binom{n+k-1}{k}$. This is more familiar notation. Unfortunately, I have not found a clear explanation as to why the above formula applies to the combinations with replacement. Could anyone be so kind to explain how this formula was developed?