$1,000,000 at 7% 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 7% interest, your initial investment of $1,000,000 will have grown to $1,718,186.
You will have earned $718,186 in interest.
How much will savings of $1,000,000 be worth in 8 years if invested at a 7.00% interest rate?
This calculator determines the future value of $1 million invested for 8 years at a constant yield of 7.00% 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 $1,000,000 at 7% Interest
| Year | Amount |
|---|---|
| 0 | $1,000,000 |
| 1 | $1,070,000 |
| 2 | $1,144,900 |
| 3 | $1,225,043 |
| 4 | $1,310,796 |
| 5 | $1,402,552 |
| 6 | $1,500,730 |
| 7 | $1,605,781 |
| 8 | $1,718,186 |
$1,000,000 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $1,082,857 |
| 2% | $1,171,659 |
| 3% | $1,266,770 |
| 4% | $1,368,569 |
| 5% | $1,477,455 |
| 6% | $1,593,848 |
| 8% | $1,850,930 |
| 10% | $2,143,589 |
| 12% | $2,475,963 |
| 15% | $3,059,023 |
| 20% | $4,299,817 |