Compound Interest Calculator
Money Market Account from Centennial Bank with 0.09% APY and $2,500 minimum deposit

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The product Money Market Account from Centennial Bank with 0.09% APY and $2,500 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 $20,181. The interest earned would be $181 and the tax amount on the interest earned would be approximately $54.

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

The Results for Centennial Bank

Savings Boost of
$-189 over 10 years

Cash Savings $20,000

Average Interest Earned $315

Centennial Bank Interest Earned $127

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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: 0.22%	Annual Interest	Annual Interest (After Tax)
1	20,000	45	31
2	20,045	45	31
3	20,089	45	31
4	20,134	45	31
5	20,179	45	31
6	20,224	45	32
7	20,269	45	32
8	20,314	45	32
9	20,360	45	32
10	20,405	46	32
	TOTAL:	$451	$315

Centennial Bank Scenario

	Rate: 0.09%	Annual Interest	Annual Interest (After Tax)
1	20,000	18	13
2	20,018	18	13
3	20,036	18	13
4	20,054	18	13
5	20,072	18	13
6	20,090	18	13
7	20,108	18	13
8	20,126	18	13
9	20,144	18	13
10	20,163	18	13
	TOTAL:	$181	$127

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.

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Compound Interest Calculator Money Market Account from Centennial Bank with 0.09% APY and $2,500 minimum deposit