Compound Interest Calculator
CD 5-year Account from Bank of Pontiac with 1.00% APY and $100,000 minimum deposit

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The product CD 5-year Account from Bank of Pontiac with 1.00% APY and $100,000 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 $22,092. The interest earned would be $2,092 and the tax amount on the interest earned would be approximately $628.

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

The Results for Bank of Pontiac

Savings Boost of
$124 over 10 years

Cash Savings $20,000

Average Interest Earned $1,341

Bank of Pontiac Interest Earned $1,465

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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: 0.92%	Annual Interest	Annual Interest (After Tax)
1	20,000	184	129
2	20,184	185	130
3	20,369	187	131
4	20,556	189	132
5	20,745	191	133
6	20,936	192	135
7	21,128	194	136
8	21,323	196	137
9	21,519	198	138
10	21,716	200	140
	TOTAL:	$1,916	$1,341

Bank of Pontiac Scenario

	Rate: 1.00%	Annual Interest	Annual Interest (After Tax)
1	20,000	200	140
2	20,200	202	141
3	20,402	204	143
4	20,606	206	144
5	20,812	208	146
6	21,020	210	147
7	21,230	212	149
8	21,443	214	150
9	21,657	217	152
10	21,874	219	153
	TOTAL:	$2,092	$1,465

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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.

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Compound Interest Calculator CD 5-year Account from Bank of Pontiac with 1.00% APY and $100,000 minimum deposit