$1,000 invested at 3% for 3 years
Future value
$1,093
Interest earned
$93
Total growth
9.2727%
Investing $1,000 at 3% compounded annually for 3 years grows to $1,093. That's $93 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 3%)^3
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