Compound Interest on $1,000 at 8% for 20 Years
Final Balance
$4,660.96
Total Contributed
$1,000
Interest Earned
$3,660.96
If you invest $1,000 at an annual interest rate of 8%, compounded annually, your investment will grow to $4,660.96 after 20 years. That means you'll earn $3,660.96 in interest — more than 3x your original investment.
Year-by-Year Breakdown
| Year | Balance | Contributions | Interest |
|---|---|---|---|
| 0 | $1,000 | $1,000 | $0 |
| 1 | $1,080 | $1,000 | $80 |
| 2 | $1,166.4 | $1,000 | $166.4 |
| 3 | $1,259.71 | $1,000 | $259.71 |
| 4 | $1,360.49 | $1,000 | $360.49 |
| 5 | $1,469.33 | $1,000 | $469.33 |
| 6 | $1,586.87 | $1,000 | $586.87 |
| 7 | $1,713.82 | $1,000 | $713.82 |
| 8 | $1,850.93 | $1,000 | $850.93 |
| 9 | $1,999 | $1,000 | $999 |
| 10 | $2,158.92 | $1,000 | $1,158.92 |
| 11 | $2,331.64 | $1,000 | $1,331.64 |
| 12 | $2,518.17 | $1,000 | $1,518.17 |
| 13 | $2,719.62 | $1,000 | $1,719.62 |
| 14 | $2,937.19 | $1,000 | $1,937.19 |
| 15 | $3,172.17 | $1,000 | $2,172.17 |
| 16 | $3,425.94 | $1,000 | $2,425.94 |
| 17 | $3,700.02 | $1,000 | $2,700.02 |
| 18 | $3,996.02 | $1,000 | $2,996.02 |
| 19 | $4,315.7 | $1,000 | $3,315.7 |
| 20 | $4,660.96 | $1,000 | $3,660.96 |
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