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 12.25% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 6,125 | 4,288 |
| 2 | 56,125 | 6,875 | 4,813 |
| 3 | 63,000 | 7,718 | 5,402 |
| 4 | 70,718 | 8,663 | 6,064 |
| 5 | 79,381 | 9,724 | 6,807 |
| 6 | 89,105 | 10,915 | 7,641 |
| 7 | 100,020 | 12,252 | 8,577 |
| 8 | 112,273 | 13,753 | 9,627 |
| 9 | 126,026 | 15,438 | 10,807 |
| 10 | 141,464 | 17,329 | 12,131 |
| 11 | 158,794 | 19,452 | 13,617 |
| 12 | 178,246 | 21,835 | 15,285 |
| 13 | 200,081 | 24,510 | 17,157 |
| 14 | 224,591 | 27,512 | 19,259 |
| 15 | 252,104 | 30,883 | 21,618 |
| 16 | 282,986 | 34,666 | 24,266 |
| 17 | 317,652 | 38,912 | 27,239 |
| 18 | 356,564 | 43,679 | 30,575 |
| 19 | 400,244 | 49,030 | 34,321 |
| 20 | 449,273 | 55,036 | 38,525 |
| TOTAL | $454,309 | $318,017 |
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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|
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5.66% |
$25,000 |
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Last change: ↑0.46% on December 15, 2023. |
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|
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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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