$15,000 invested at 4% for 1 years
Future value
$15,600
Interest earned
$600
Total growth
4%
Investing $15,000 at 4% compounded annually for 1 years grows to $15,600. That's $600 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 4%)^1
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