$20,000 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 $20,000 will have grown to $34,364.
You will have earned $14,364 in interest.
How much will savings of $20,000 be worth in 8 years if invested at a 7.00% interest rate?
This calculator determines the future value of $20k 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 $20,000 at 7% Interest
| Year | Amount |
|---|---|
| 0 | $20,000 |
| 1 | $21,400 |
| 2 | $22,898 |
| 3 | $24,501 |
| 4 | $26,216 |
| 5 | $28,051 |
| 6 | $30,015 |
| 7 | $32,116 |
| 8 | $34,364 |
$20,000 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $21,657 |
| 2% | $23,433 |
| 3% | $25,335 |
| 4% | $27,371 |
| 5% | $29,549 |
| 6% | $31,877 |
| 8% | $37,019 |
| 10% | $42,872 |
| 12% | $49,519 |
| 15% | $61,180 |
| 20% | $85,996 |