$3,000 invested at 8% for 5 years
Future value
$4,408
Interest earned
$1,408
Total growth
46.9328%
Investing $3,000 at 8% compounded annually for 5 years grows to $4,408. That's $1,408 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 8%)^5
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