$50,000 invested at 7% for 1 years
Future value
$53,500
Interest earned
$3,500
Total growth
7%
Investing $50,000 at 7% compounded annually for 1 years grows to $53,500. That's $3,500 of compound interest earned on your original $50,000.
FV = $50,000 × (1 + 7%)^1
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