$1,000 invested at 6% for 1 years
Future value
$1,060
Interest earned
$60
Total growth
6%
Investing $1,000 at 6% compounded annually for 1 years grows to $1,060. That's $60 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 6%)^1
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