$100,000 invested at 3% for 1 years
Future value
$103,000
Interest earned
$3,000
Total growth
3%
Investing $100,000 at 3% compounded annually for 1 years grows to $103,000. That's $3,000 of compound interest earned on your original $100,000.
FV = $100,000 × (1 + 3%)^1
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