$15,000 invested at 6% for 1 years
Future value
$15,900
Interest earned
$900
Total growth
6%
Investing $15,000 at 6% compounded annually for 1 years grows to $15,900. That's $900 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 6%)^1
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