$1,500 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 $1,500 will have grown to $2,577.
You will have earned $1,077 in interest.
How much will savings of $1,500 be worth in 8 years if invested at a 7.00% interest rate?
This calculator determines the future value of $1.5k 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 $1,500 at 7% Interest
| Year | Amount |
|---|---|
| 0 | $1,500 |
| 1 | $1,605 |
| 2 | $1,717 |
| 3 | $1,838 |
| 4 | $1,966 |
| 5 | $2,104 |
| 6 | $2,251 |
| 7 | $2,409 |
| 8 | $2,577 |
$1,500 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $1,624 |
| 2% | $1,757 |
| 3% | $1,900 |
| 4% | $2,053 |
| 5% | $2,216 |
| 6% | $2,391 |
| 8% | $2,776 |
| 10% | $3,215 |
| 12% | $3,714 |
| 15% | $4,589 |
| 20% | $6,450 |