$3,000 invested at 12% for 1 years
Future value
$3,360
Interest earned
$360
Total growth
12%
Investing $3,000 at 12% compounded annually for 1 years grows to $3,360. That's $360 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 12%)^1
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