$50,000 invested at 6% for 1 years
Future value
$53,000
Interest earned
$3,000
Total growth
6%
Investing $50,000 at 6% compounded annually for 1 years grows to $53,000. That's $3,000 of compound interest earned on your original $50,000.
FV = $50,000 × (1 + 6%)^1
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