$20,000 invested at 10% for 1 years
Future value
$22,000
Interest earned
$2,000
Total growth
10%
Investing $20,000 at 10% compounded annually for 1 years grows to $22,000. That's $2,000 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 10%)^1
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