$1,000 invested at 3% for 1 years
Future value
$1,030
Interest earned
$30
Total growth
3%
Investing $1,000 at 3% compounded annually for 1 years grows to $1,030. That's $30 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 3%)^1
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