$7,000 at 1% 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 1% interest, your initial investment of $7,000 will have grown to $7,580.
You will have earned $580 in interest.
How much will savings of $7,000 be worth in 8 years if invested at a 1.00% interest rate?
This calculator determines the future value of $7k invested for 8 years at a constant yield of 1.00% 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 $7,000 at 1% Interest
| Year | Amount |
|---|---|
| 0 | $7,000 |
| 1 | $7,070 |
| 2 | $7,141 |
| 3 | $7,212 |
| 4 | $7,284 |
| 5 | $7,357 |
| 6 | $7,431 |
| 7 | $7,505 |
| 8 | $7,580 |
$7,000 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $7,580 |
| 2% | $8,202 |
| 3% | $8,867 |
| 4% | $9,580 |
| 5% | $10,342 |
| 6% | $11,157 |
| 8% | $12,957 |
| 10% | $15,005 |
| 12% | $17,332 |
| 15% | $21,413 |
| 20% | $30,099 |