$3,000 invested at 7% for 20 years
Future value
$11,609
Interest earned
$8,609
Total growth
286.968%
Investing $3,000 at 7% compounded annually for 20 years grows to $11,609. That's $8,609 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 7%)^20
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