$15,000 invested at 7% for 1 years
Future value
$16,050
Interest earned
$1,050
Total growth
7%
Investing $15,000 at 7% compounded annually for 1 years grows to $16,050. That's $1,050 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 7%)^1
AdvertisementAd space
Try your own numbers in the Compound Interest CalculatorAdvertisementAd space