The songs will now import into iTunes. The progress of the import is displayed in the box at the top of the iTunes window. The window will display what song is being imported and how long iTunes estimates it will take to convert that file.
In the list of songs beneath the window, the song that's being converted has an orange wavy line next to it. Songs that have been successfully imported have green checkmarks next to them.
How long it will take to copy a CD depends on a number of factors, including the speed of your CD drive, your import settings, the length of the songs, and the number of songs. In most cases, though, ripping a CD should only take a few minutes.
When all songs have been imported, your computer will play a chime sound and all songs have the green checkmark next to them.