Welcome!
You wrote:
I have the mac listed above with 1.6 GHZ Dual-Core Intel Core i5 with 8GB 1867 MHz DDR3
That is the crippled educational/institutional iMac that benchmarks at rough 1/2 the speed of the standard consumer 21.5-inch iMac, the iMac 4K. Yours suffers a a slow, laptop-class dual-core processor; the 4K uses a proper 4-core desktop processor.
In short, that computer can never be "fast."
There is one cost-effective option available: get a USB3-rated external drive than contains an SATA 6G solid-state drive. Clone—not copy—the content of your internal drive to the external and then use the Startup Disk system preference to set the external as the boot volume.
That does not help the the crippled processor but the 5-6X increase in data transfer will make the computer boot faster and apps will launch in about 1/3 of the time, making the user experience more enjoyable. No one likes watching spinning beach balls!
The advantages of the external USB boot solution are several:
- You can do it yourself at home
- You can do it for under US$100.
- The old internal drive remains for extra storage.
- You do not have to open a computer whose case Apple sealed shut
- The external SSD will still be usable fo external storage when you get a new computer.