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

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 |

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

According to Snopes, the answer is probably not.