Compound Interest Calculator
CD 3-year Account from Central Bank & Trust Co. of Lexington, Kentucky with 0.50% APY and $100,000 minimum deposit
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The product CD 3-year Account from Central Bank & Trust Co. of Lexington, Kentucky with 0.50% 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 $21,023. The interest earned would be $1,023 and the tax amount on the interest earned would be approximately $307.
Please note that this product is available in Kentucky and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
The Results for Central Bank & Trust Co. of Lexington, Kentucky
Savings Boost of
$-384 over 10 years
$-384 over 10 years
Cash Savings
$20,000
Average Interest Earned
$1,100
Central Bank & Trust Co. of Lexington, Kentucky Interest Earned
$716
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: 0.76% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 152 | 106 |
| 2 | 20,152 | 153 | 107 |
| 3 | 20,305 | 154 | 108 |
| 4 | 20,459 | 155 | 109 |
| 5 | 20,614 | 156 | 110 |
| 6 | 20,771 | 158 | 110 |
| 7 | 20,928 | 159 | 111 |
| 8 | 21,087 | 160 | 112 |
| 9 | 21,247 | 161 | 113 |
| 10 | 21,408 | 162 | 114 |
| TOTAL: | $1,571 | $1,100 |
Central Bank & Trust Co. of Lexington, Kentucky Scenario
| Rate: 0.50% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 100 | 70 |
| 2 | 20,100 | 101 | 70 |
| 3 | 20,201 | 101 | 71 |
| 4 | 20,302 | 102 | 71 |
| 5 | 20,403 | 102 | 71 |
| 6 | 20,505 | 103 | 72 |
| 7 | 20,608 | 103 | 72 |
| 8 | 20,711 | 104 | 72 |
| 9 | 20,814 | 104 | 73 |
| 10 | 20,918 | 105 | 73 |
| TOTAL: | $1,023 | $716 |
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Featured CD Rates
Advertiser Disclosure| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.50% | $100,000 |
Learn More on the North American Savings Bank, F.S.B. website |
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Decide once. Earn for a year. A full year of predictable earnings with our 12-Month Jumbo CD. 12-Month |
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5.00% |
$10,000 |
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Last change: ↑0.05% on October 8. |
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4.95% |
$10,000 |
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Last change: ↑0.10% on October 8. |
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4.85% |
$10,000 |
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Last change: ↑0.05% on October 8. |
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4.75% |
$0 |
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Last change: ↑0.40% on October 11. |
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Customer Reviews for Central Bank & Trust Co. of Lexington, Kentucky
3.0 out of 5 based on 2 ratings
Pbar
March 11, 2023 |
Best Bank in Lexington. FDIC insured but not ruled by the Fed.
Is this review helpful? Yes:1 / No: 0
Wellington
November 1, 2019 |
Not impressed. Got a CD last November. The staff person put the wrong SS number. I was back home 60 miles away before I realized it. My bad. Central does not issue earnings statements. So the same staff told me
Thought I would buy a truck in August. Asked about using CD as security for a loan. Less than 25% of the value of the CD. The person that answered the phone did not know if Central did that. Supposedly talked to a loan officer. I held on til she reported back, " we don't do that". The original staff didn't know what a passbook savings account was. I am dating myself, but I retired from FDIC. So on the maturity date of 11\13\19 I will be moving my money
Still scratching my head!!
Is this review helpful? Yes:1 / No: 1
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