$500 at 2% 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 2% interest, your initial investment of $500 will have grown to $585.83.
You will have earned $85.83 in interest.
How much will savings of $500 be worth in 8 years if invested at a 2.00% interest rate?
This calculator determines the future value of $500 invested for 8 years at a constant yield of 2.00% 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 $500 at 2% Interest
| Year | Amount |
|---|---|
| 0 | $500.00 |
| 1 | $510.00 |
| 2 | $520.20 |
| 3 | $530.60 |
| 4 | $541.22 |
| 5 | $552.04 |
| 6 | $563.08 |
| 7 | $574.34 |
| 8 | $585.83 |
$500 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $541.43 |
| 2% | $585.83 |
| 3% | $633.39 |
| 4% | $684.28 |
| 5% | $738.73 |
| 6% | $796.92 |
| 8% | $925.47 |
| 10% | $1,072 |
| 12% | $1,238 |
| 15% | $1,530 |
| 20% | $2,150 |