$20,000 invested at 2% for 3 years
Future value
$21,224
Interest earned
$1,224
Total growth
6.1208%
Investing $20,000 at 2% compounded annually for 3 years grows to $21,224. That's $1,224 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 2%)^3
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