Compound Interest Calculator
CD 1-year Account from Bank of the James with 0.20% APY and $100,000 minimum deposit

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The product CD 1-year Account from Bank of the James with 0.20% 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 $20,404. The interest earned would be $404 and the tax amount on the interest earned would be approximately $121.

Please note that this product is available in Virginia 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 the James

Savings Boost of
$-522 over 10 years

Cash Savings $20,000

Average Interest Earned $804

Bank of the James Interest Earned $283

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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: 0.56%	Annual Interest	Annual Interest (After Tax)
1	20,000	112	78
2	20,112	113	79
3	20,225	113	79
4	20,338	114	80
5	20,452	115	80
6	20,566	115	81
7	20,681	116	81
8	20,797	116	82
9	20,914	117	82
10	21,031	118	82
	TOTAL:	$1,149	$804

Bank of the James Scenario

	Rate: 0.20%	Annual Interest	Annual Interest (After Tax)
1	20,000	40	28
2	20,040	40	28
3	20,080	40	28
4	20,120	40	28
5	20,160	40	28
6	20,201	40	28
7	20,241	40	28
8	20,282	41	28
9	20,322	41	28
10	20,363	41	29
	TOTAL:	$404	$283

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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 1-year Account from Bank of the James with 0.20% APY and $100,000 minimum deposit