$3,000 invested at 7% for 1 years
Future value
$3,210
Interest earned
$210
Total growth
7%
Investing $3,000 at 7% compounded annually for 1 years grows to $3,210. That's $210 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 7%)^1
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