# Compound Interest of Investment

Suppose you invest $\2000$ in the bank. The money attracts an interest rate of $10 \%$ per annum. The interest is added to the investment yearly, so the total interest increases. Each year’s percentage increase is $10\%$, so at the end of the year, you will have $110\%$ of the value at its start. This corresponds to a multiplier of $1.1$.

After one year, it is worth: $\2000 \times 1.1 = \2200$
After two years it is worth: $\2000 \times 1.1^2 = \2420$
After three years it is worth: $\2000 \times 1.1^3 = \2662$

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