If I put 100 dollars in the bank will the bank put interest on it? And will i have 100,000 by time I'm 26 I'm 16 now?

The rule of 72 will give an approximation of how long money takes to double. For example if the rate is 3% a year then 72 / 3 = 24. That means 24 years to double your money.

₪ ɦəlʞɹɐq ₪

Yes if you put it in an interest bearing account the bank will add interest.

No its unlikely the bank will put in so much interest that it will reach 100,000.

The formula is Cn = Co*(1+i)^n
were Co is the initial investment
Cn is the capital after n periods (yrs maybe)
i is the rate of interest over 1 period(yrs)
n is the number of periods (yrs)

So in your case
C10 = 100 * (1+0.04)^10 = $148.025 (approximately)
Interest rates are not constant and banks do strange things, so the above is an approximation but a good one.

Short answer: no.
Interest rates are way too low right now. And even when they were at their peak, you wouldn't have made $100000 in ten years. Ask your math teacher to explain interest to you. The best thing you can do for yourself is open a 401(k) when you turn 21, assuming your future employer offers one. And most companies will match your contributions up to a certain percent, which is free money! If you start it when you're 21, you'll have a small fortune by the time you retire. I know it sounds like a long time to wait, but trust me, Social Security is not going to be able to pay for your retirement. Probably not even mine. If you can't get a 401(k), get a Roth IRA. it works in a similar way only no company match. The important thing is, don't get impatient. I'm 30 years old and I don't have $100,000. Not even close. But, I live very comfortably with my wife and daughter. Just stay in school, go to college and get a good solid job when you graduate. That's the best way to earn the money you want. Good luck.

No :)

oops. Dup by mistake

If there was a bank like that then we would ALL be customers, for sure.

If you are lucky the bank will put enough interest on it to keep up with the cost of living. You will not gain or lose money.

You need to look up "Compounding Interest" To compound $100 you need to add a $100 each year for ten years. At 80% interest a year you would have $115,815.18 in ten years. Without compounding you would need to find a bank giving 100% interest, then we would have $104,000 in ten years. I was part of a school bankruptcy that involved money for the children, our account was 1.5 million we only got 13 thousand a month. ONLY got, but a mill + is a lot of money.

I have one better than this.

Put $5,000 in a CD back in 1984 at 14.4% interest.

Whats it worth today?