How much money will $500 be worth if you let the interest grow?

After investing for 10 years at 5% interest, your $500 investment will have grown to $814.45

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

According to Snopes, the answer is probably not.

Growth of $500 at 5% Interest

Year | Amount |
---|---|

0 | $500.00 |

1 | $525.00 |

2 | $551.25 |

3 | $578.81 |

4 | $607.75 |

5 | $638.14 |

6 | $670.05 |

7 | $703.55 |

8 | $738.73 |

9 | $775.66 |

10 | $814.45 |

$500 for 10 Years by Interest Rate

Rate | Amount |
---|---|

1% | $552.31 |

2% | $609.50 |

3% | $671.96 |

4% | $740.12 |

5% | $814.45 |

6% | $895.42 |

8% | $1,079 |

10% | $1,297 |

12% | $1,553 |

15% | $2,023 |

20% | $3,096 |