$7 at 5% 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 5% interest, your initial investment of $7 will have grown to $10.34.
You will have earned $3.34 in interest.
How much will savings of $7 be worth in 8 years if invested at a 5.00% interest rate?
This calculator determines the future value of $7 invested for 8 years at a constant yield of 5.00% 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 $7 at 5% Interest
| Year | Amount |
|---|---|
| 0 | $7.00 |
| 1 | $7.35 |
| 2 | $7.72 |
| 3 | $8.10 |
| 4 | $8.51 |
| 5 | $8.93 |
| 6 | $9.38 |
| 7 | $9.85 |
| 8 | $10.34 |
$7 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $7.58 |
| 2% | $8.20 |
| 3% | $8.87 |
| 4% | $9.58 |
| 5% | $10.34 |
| 6% | $11.16 |
| 8% | $12.96 |
| 10% | $15.01 |
| 12% | $17.33 |
| 15% | $21.41 |
| 20% | $30.10 |