$2,000 invested at 6% for 1 years
Future value
$2,120
Interest earned
$120
Total growth
6%
Investing $2,000 at 6% compounded annually for 1 years grows to $2,120. That's $120 of compound interest earned on your original $2,000.
FV = $2,000 × (1 + 6%)^1
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