$15,000 invested at 9% for 1 years
Future value
$16,350
Interest earned
$1,350
Total growth
9%
Investing $15,000 at 9% compounded annually for 1 years grows to $16,350. That's $1,350 of compound interest earned on your original $15,000.
FV = $15,000 × (1 + 9%)^1
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