$1,000 at 6% Interest for 8 Years
How much money will your investment be worth if you let the interest grow?
Amount
$
Interest Rate
%
Years to Invest
After investing for 8 years at 6% interest, your initial investment of $1,000 will have grown to $1,594.
You will have earned $594 in interest.
How much will savings of $1,000 be worth in 8 years if invested at a 6.00% interest rate?
This calculator determines the future value of $1k invested for 8 years at a constant yield of 6.00% compounded annually.
Did Albert Einstein really say "Compound interest is the most powerful force in the universe?"
According to Snopes, the answer is probably not.
Nevertheless, investing money consistently over a long period of time has made many people very rich.
Growth of $1,000 at 6% Interest
| Year | Amount |
|---|---|
| 0 | $1,000 |
| 1 | $1,060 |
| 2 | $1,124 |
| 3 | $1,191 |
| 4 | $1,262 |
| 5 | $1,338 |
| 6 | $1,419 |
| 7 | $1,504 |
| 8 | $1,594 |
$1,000 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $1,083 |
| 2% | $1,172 |
| 3% | $1,267 |
| 4% | $1,369 |
| 5% | $1,477 |
| 6% | $1,594 |
| 8% | $1,851 |
| 10% | $2,144 |
| 12% | $2,476 |
| 15% | $3,059 |
| 20% | $4,300 |