$15,000 invested at 7% for 3 years
Future value
$18,376
Interest earned
$3,376
Total growth
22.5043%
Investing $15,000 at 7% compounded annually for 3 years grows to $18,376. That's $3,376 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 7%)^3
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