$1,000 invested at 12% for 1 years
Future value
$1,120
Interest earned
$120
Total growth
12%
Investing $1,000 at 12% compounded annually for 1 years grows to $1,120. That's $120 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 12%)^1
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