$7,500 invested at 8% for 5 years
Future value
$11,020
Interest earned
$3,520
Total growth
46.9328%
Investing $7,500 at 8% compounded annually for 5 years grows to $11,020. That's $3,520 of compound interest earned on your original $7,500.
FV = $7,500 × (1 + 8%)^5
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