$1,000 invested at 6% for 5 years
Future value
$1,338
Interest earned
$338
Total growth
33.8226%
Investing $1,000 at 6% compounded annually for 5 years grows to $1,338. That's $338 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 6%)^5
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