$1,000 invested at 7% for 3 years
Future value
$1,225
Interest earned
$225
Total growth
22.5043%
Investing $1,000 at 7% compounded annually for 3 years grows to $1,225. That's $225 of compound interest earned on your original $1,000.
FV = $1,000 × (1 + 7%)^3
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