$1,000 invested at 4% for 1 years
Future value
$1,040
Interest earned
$40
Total growth
4%
Investing $1,000 at 4% compounded annually for 1 years grows to $1,040. That's $40 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 4%)^1
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