$15,000 invested at 2% for 1 years
Future value
$15,300
Interest earned
$300
Total growth
2%
Investing $15,000 at 2% compounded annually for 1 years grows to $15,300. That's $300 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 2%)^1
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