$100,000 invested at 7% for 3 years
Future value
$122,504
Interest earned
$22,504
Total growth
22.5043%
Investing $100,000 at 7% compounded annually for 3 years grows to $122,504. That's $22,504 of compound interest earned on your original $100,000.
FV = $100,000 × (1 + 7%)^3
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