$3,000 invested at 7% for 5 years
Future value
$4,208
Interest earned
$1,208
Total growth
40.2552%
Investing $3,000 at 7% compounded annually for 5 years grows to $4,208. That's $1,208 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 7%)^5
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