$50,000 invested at 3% for 1 years
Future value
$51,500
Interest earned
$1,500
Total growth
3%
Investing $50,000 at 3% compounded annually for 1 years grows to $51,500. That's $1,500 of compound interest earned on your original $50,000.
FV = $50,000 × (1 + 3%)^1
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