$7,000 at 8% Interest for 20 Years
How much money will your investment be worth if you let the interest grow?
Amount
$
Interest Rate
%
Years to Invest
After investing for 20 years at 8% interest, your initial investment of $7,000 will have grown to $32,627.
You will have earned $25,627 in interest.
How much will savings of $7,000 be worth in 20 years if invested at a 8.00% interest rate?
This calculator determines the future value of $7k invested for 20 years at a constant yield of 8.00% 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 8% Interest
| Year | Amount |
|---|---|
| 0 | $7,000 |
| 1 | $7,560 |
| 2 | $8,165 |
| 3 | $8,818 |
| 4 | $9,523 |
| 5 | $10,285 |
| 6 | $11,108 |
| 7 | $11,997 |
| 8 | $12,957 |
| 9 | $13,993 |
| 10 | $15,112 |
| 11 | $16,321 |
| 12 | $17,627 |
| 13 | $19,037 |
| 14 | $20,560 |
| 15 | $22,205 |
| 16 | $23,982 |
| 17 | $25,900 |
| 18 | $27,972 |
| 19 | $30,210 |
| 20 | $32,627 |
$7,000 for 20 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $8,541 |
| 2% | $10,402 |
| 3% | $12,643 |
| 4% | $15,338 |
| 5% | $18,573 |
| 6% | $22,450 |
| 8% | $32,627 |
| 10% | $47,092 |
| 12% | $67,524 |
| 15% | $114,566 |
| 20% | $268,363 |