$15,000 invested at 8% for 1 years
Future value
$16,200
Interest earned
$1,200
Total growth
8%
Investing $15,000 at 8% compounded annually for 1 years grows to $16,200. That's $1,200 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 8%)^1
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