$2,000 invested at 7% for 3 years
Future value
$2,450
Interest earned
$450
Total growth
22.5043%
Investing $2,000 at 7% compounded annually for 3 years grows to $2,450. That's $450 of compound interest earned on your original $2,000.
FV = $2,000 × (1 + 7%)^3
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