$5,000 invested at 7% for 1 years
Future value
$5,350
Interest earned
$350
Total growth
7%
Investing $5,000 at 7% compounded annually for 1 years grows to $5,350. That's $350 of compound interest earned on your original $5,000.
FV = $5,000 × (1 + 7%)^1
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