$20,000 invested at 3% for 3 years
Future value
$21,855
Interest earned
$1,855
Total growth
9.2727%
Investing $20,000 at 3% compounded annually for 3 years grows to $21,855. That's $1,855 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 3%)^3
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