$20,000 invested at 9% for 1 years
Future value
$21,800
Interest earned
$1,800
Total growth
9%
Investing $20,000 at 9% compounded annually for 1 years grows to $21,800. That's $1,800 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 9%)^1
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