$10,000 invested at 7% for 1 years
Future value
$10,700
Interest earned
$700
Total growth
7%
Investing $10,000 at 7% compounded annually for 1 years grows to $10,700. That's $700 of compound interest earned on your original $10,000.
FV = $10,000 × (1 + 7%)^1
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