This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.
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| Year | Rate 7.00% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 3,500 | 2,450 |
| 2 | 53,500 | 3,745 | 2,622 |
| 3 | 57,245 | 4,007 | 2,805 |
| 4 | 61,252 | 4,288 | 3,001 |
| 5 | 65,540 | 4,588 | 3,211 |
| 6 | 70,128 | 4,909 | 3,436 |
| 7 | 75,037 | 5,253 | 3,677 |
| 8 | 80,289 | 5,620 | 3,934 |
| 9 | 85,909 | 6,014 | 4,210 |
| 10 | 91,923 | 6,435 | 4,504 |
| 11 | 98,358 | 6,885 | 4,820 |
| 12 | 105,243 | 7,367 | 5,157 |
| 13 | 112,610 | 7,883 | 5,518 |
| 14 | 120,492 | 8,434 | 5,904 |
| 15 | 128,927 | 9,025 | 6,317 |
| 16 | 137,952 | 9,657 | 6,760 |
| 17 | 147,608 | 10,333 | 7,233 |
| 18 | 157,941 | 11,056 | 7,739 |
| 19 | 168,997 | 11,830 | 8,281 |
| 20 | 180,826 | 12,658 | 8,860 |
| TOTAL | $143,484 | $100,439 |
All calculations are for demonstration purposes only.
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
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6.00% |
$5,000 |
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6 Month CD Special. Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%. |
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5.66% |
$25,000 |
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Last change: ↑0.46% on December 15, 2023. |
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5.60% |
$500 |
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Last change: ↑0.60% on April 19. |
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5.50% |
$500 |
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Last change: ↑0.20% on September 8, 2023. |
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5.50% |
$10,000 |
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Last change: ↓0.05% on March 15. |
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