How much money will your investment be worth if you let the interest grow?

After investing for 10 years at 5% interest, your $1,000 investment will have grown to $1,629

Did Albert Einstein really say "Compound interest is the most powerful force in the universe?"

According to Snopes, the answer is probably not.

Growth of $1,000 at 5% Interest

Year | Amount |
---|---|

0 | $1,000 |

1 | $1,050 |

2 | $1,103 |

3 | $1,158 |

4 | $1,216 |

5 | $1,276 |

6 | $1,340 |

7 | $1,407 |

8 | $1,477 |

9 | $1,551 |

10 | $1,629 |

$1,000 for 10 Years by Interest Rate

Rate | Amount |
---|---|

1% | $1,105 |

2% | $1,219 |

3% | $1,344 |

4% | $1,480 |

5% | $1,629 |

6% | $1,791 |

8% | $2,159 |

10% | $2,594 |

12% | $3,106 |

15% | $4,046 |

20% | $6,192 |