$7,500 invested at 3% for 5 years
Future value
$8,695
Interest earned
$1,195
Total growth
15.9274%
Investing $7,500 at 3% compounded annually for 5 years grows to $8,695. That's $1,195 of compound interest earned on your original $7,500.
FV = $7,500 × (1 + 3%)^5
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