$15,000 invested at 7% for 5 years
Future value
$21,038
Interest earned
$6,038
Total growth
40.2552%
Investing $15,000 at 7% compounded annually for 5 years grows to $21,038. That's $6,038 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 7%)^5
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