$3,000 invested at 9% for 5 years
Future value
$4,616
Interest earned
$1,616
Total growth
53.8624%
Investing $3,000 at 9% compounded annually for 5 years grows to $4,616. That's $1,616 of compound interest earned on your original $3,000.
FV = $3,000 × (1 + 9%)^5
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