$2,000 invested at 12% for 1 years
Future value
$2,240
Interest earned
$240
Total growth
12%
Investing $2,000 at 12% compounded annually for 1 years grows to $2,240. That's $240 of compound interest earned on your original $2,000.
FV = $2,000 × (1 + 12%)^1
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