$3,000 invested at 4% for 1 years
Future value
$3,120
Interest earned
$120
Total growth
4%
Investing $3,000 at 4% compounded annually for 1 years grows to $3,120. That's $120 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 4%)^1
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