$20,000 invested at 5% for 3 years
Future value
$23,153
Interest earned
$3,153
Total growth
15.7625%
Investing $20,000 at 5% compounded annually for 3 years grows to $23,153. That's $3,153 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 5%)^3
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