$20,000 invested at 12% for 1 years
Future value
$22,400
Interest earned
$2,400
Total growth
12%
Investing $20,000 at 12% compounded annually for 1 years grows to $22,400. That's $2,400 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 12%)^1
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