$20,000 invested at 7% for 5 years
Future value
$28,051
Interest earned
$8,051
Total growth
40.2552%
Investing $20,000 at 7% compounded annually for 5 years grows to $28,051. That's $8,051 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 7%)^5
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