$8,000 at 7% 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 7% interest, your initial investment of $8,000 will have grown to $30,957.
You will have earned $22,957 in interest.
How much will savings of $8,000 be worth in 20 years if invested at a 7.00% interest rate?
This calculator determines the future value of $8k invested for 20 years at a constant yield of 7.00% 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 $8,000 at 7% Interest
| Year | Amount |
|---|---|
| 0 | $8,000 |
| 1 | $8,560 |
| 2 | $9,159 |
| 3 | $9,800 |
| 4 | $10,486 |
| 5 | $11,220 |
| 6 | $12,006 |
| 7 | $12,846 |
| 8 | $13,745 |
| 9 | $14,708 |
| 10 | $15,737 |
| 11 | $16,839 |
| 12 | $18,018 |
| 13 | $19,279 |
| 14 | $20,628 |
| 15 | $22,072 |
| 16 | $23,617 |
| 17 | $25,271 |
| 18 | $27,039 |
| 19 | $28,932 |
| 20 | $30,957 |
$8,000 for 20 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $9,762 |
| 2% | $11,888 |
| 3% | $14,449 |
| 4% | $17,529 |
| 5% | $21,226 |
| 6% | $25,657 |
| 8% | $37,288 |
| 10% | $53,820 |
| 12% | $77,170 |
| 15% | $130,932 |
| 20% | $306,701 |