Compound Interest Calculator
CD 5-year Account from AFFINITY with 2.50% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from AFFINITY with 2.50% APY and $500 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $25,602. The interest earned would be $5,602 and the tax amount on the interest earned would be approximately $1,681.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for AFFINITY

Savings Boost of
$2,588 over 10 years
Cash Savings $20,000
Average Interest Earned $1,334

 
AFFINITY Interest Earned $3,921

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.91%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 183 128
2 20,183 184 129
3 20,367 186 130
4 20,553 188 132
5 20,741 190 133
6 20,931 191 134
7 21,122 193 135
8 21,315 195 136
9 21,510 197 138
10 21,707 198 139
TOTAL: $1,905 $1,334

AFFINITY Scenario

Rate:
2.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 500 350
2 20,500 513 359
3 21,013 525 368
4 21,538 538 377
5 22,076 552 386
6 22,628 566 396
7 23,194 580 406
8 23,774 594 416
9 24,368 609 426
10 24,977 624 437
TOTAL: $5,602 $3,921

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
January 29, 2024 2.50%


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