$20,000 invested at 6% for 3 years
Future value
$23,820
Interest earned
$3,820
Total growth
19.1016%
Investing $20,000 at 6% compounded annually for 3 years grows to $23,820. That's $3,820 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 6%)^3
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