$15,000 invested at 8% for 5 years
Future value
$22,040
Interest earned
$7,040
Total growth
46.9328%
Investing $15,000 at 8% compounded annually for 5 years grows to $22,040. That's $7,040 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 8%)^5
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