$3,000 invested at 6% for 5 years
Future value
$4,015
Interest earned
$1,015
Total growth
33.8226%
Investing $3,000 at 6% compounded annually for 5 years grows to $4,015. That's $1,015 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 6%)^5
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