$7,500 invested at 6% for 1 years
Future value
$7,950
Interest earned
$450
Total growth
6%
Investing $7,500 at 6% compounded annually for 1 years grows to $7,950. That's $450 of compound interest earned on your original $7,500.
FV = $7,500 × (1 + 6%)^1
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