In 8 years your investments will be worth $275,701.38.

<script src="https://easyfinances.s3.amazonaws.com/static/js/block_charts.js"></script> <script src="https://cdnjs.cloudflare.com/ajax/libs/Chart.js/2.7.1/Chart.bundle.min.js"></script> <div style="display: block; margin: 0 auto; width: 90%; height: auto; text-align: center;"> <h4>Compound interest graph</h4> <div> <canvas id="QJFNA3J"></canvas> </div> <p>Starting amount: $0 | Additional yearly: $24,000 | Growth Rate: 8.0%</p> <p>Value after 8 years: <b>$275,701.38</b></p> <p>Graph created at <a href="https://www.financialtoolbelt.com/calculators/compound-interest-calculator/">Financial Toolbelt</a></p> <script> create_compound_chart("QJFNA3J", {"yearly_data": [{"year": 2019, "account_value": 0, "year_num": 0, "interest": 0, "total_interest": 0}, {"year": 2020, "account_value": 25920.0, "year_num": 1, "interest": 1920.0, "total_interest": 1920.0}, {"year": 2021, "account_value": 53913.6, "year_num": 2, "interest": 3993.6, "total_interest": 5913.6}, {"year": 2022, "account_value": 84146.69, "year_num": 3, "interest": 6233.09, "total_interest": 12146.69}, {"year": 2023, "account_value": 116798.43, "year_num": 4, "interest": 8651.74, "total_interest": 20798.43}, {"year": 2024, "account_value": 152062.3, "year_num": 5, "interest": 11263.87, "total_interest": 32062.3}, {"year": 2025, "account_value": 190147.28, "year_num": 6, "interest": 14084.98, "total_interest": 46147.28}, {"year": 2026, "account_value": 231279.06, "year_num": 7, "interest": 17131.78, "total_interest": 63279.06}, {"year": 2027, "account_value": 275701.38, "year_num": 8, "interest": 20422.32, "total_interest": 83701.38}], "final_account_value": 275701.38}); </script> </div>