$2,000 invested at 2% for 1 years
Future value
$2,040
Interest earned
$40
Total growth
2%
Investing $2,000 at 2% compounded annually for 1 years grows to $2,040. That's $40 of compound interest earned on your original $2,000.
FV = $2,000 × (1 + 2%)^1
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