$20,000 invested at 4% for 3 years
Future value
$22,497
Interest earned
$2,497
Total growth
12.4864%
Investing $20,000 at 4% compounded annually for 3 years grows to $22,497. That's $2,497 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 4%)^3
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