$8,000 at 7% 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 7% interest, your initial investment of $8,000 will have grown to $13,745.
You will have earned $5,745 in interest.
How much will savings of $8,000 be worth in 8 years if invested at a 7.00% interest rate?
This calculator determines the future value of $8k invested for 8 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 |
$8,000 for 8 Years by Interest Rate
| Rate | Amount |
|---|---|
| 1% | $8,663 |
| 2% | $9,373 |
| 3% | $10,134 |
| 4% | $10,949 |
| 5% | $11,820 |
| 6% | $12,751 |
| 8% | $14,807 |
| 10% | $17,149 |
| 12% | $19,808 |
| 15% | $24,472 |
| 20% | $34,399 |