$3,000 invested at 2% for 1 years
Future value
$3,060
Interest earned
$60
Total growth
2%
Investing $3,000 at 2% compounded annually for 1 years grows to $3,060. That's $60 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 2%)^1
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