$1,000 invested at 2% for 5 years
Future value
$1,104
Interest earned
$104
Total growth
10.4081%
Investing $1,000 at 2% compounded annually for 5 years grows to $1,104. That's $104 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 2%)^5
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