$20,000 invested at 6% for 1 years
Future value
$21,200
Interest earned
$1,200
Total growth
6%
Investing $20,000 at 6% compounded annually for 1 years grows to $21,200. That's $1,200 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 6%)^1
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