$10,000 invested at 7% for 3 years
Future value
$12,250
Interest earned
$2,250
Total growth
22.5043%
Investing $10,000 at 7% compounded annually for 3 years grows to $12,250. That's $2,250 of compound interest earned on your original $10,000.
FV = $10,000 × (1 + 7%)^3
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