Compound Interest Calculator
CD 1-year Account from CHATTANOOGA AREA SCHOOLS with 5.15% APY and $2,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

CHATTANOOGA AREA SCHOOLS Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 1-year Account from CHATTANOOGA AREA SCHOOLS with 5.15% APY and $2,000 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 $33,046. The interest earned would be $13,046 and the tax amount on the interest earned would be approximately $3,914.

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 CHATTANOOGA AREA SCHOOLS

Savings Boost of
$8,346 over 10 years

Cash Savings $20,000

Average Interest Earned $786

CHATTANOOGA AREA SCHOOLS Interest Earned $9,132

Compare

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: 0.55%	Annual Interest	Annual Interest (After Tax)
1	20,000	110	77
2	20,110	110	77
3	20,220	111	78
4	20,331	111	78
5	20,442	112	78
6	20,554	113	79
7	20,667	113	79
8	20,780	114	80
9	20,894	114	80
10	21,008	115	81
	TOTAL:	$1,123	$786

CHATTANOOGA AREA SCHOOLS Scenario

	Rate: 5.15%	Annual Interest	Annual Interest (After Tax)
1	20,000	1,030	721
2	21,030	1,083	758
3	22,113	1,139	797
4	23,252	1,197	838
5	24,449	1,259	881
6	25,708	1,324	927
7	27,032	1,392	975
8	28,425	1,464	1,025
9	29,889	1,539	1,077
10	31,428	1,619	1,133
	TOTAL:	$13,046	$9,132

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
May 15, 2024	5.15%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Ivy Bank, a division of Cambridge Savings Bank	4.35%	$1,000	Learn More
Last change: ↑2.35% on September 16.
Climate First Bank	4.34%	$500	Learn More
Last change: ↑1.66% on April 4.
Climate First Bank	4.34%	$500	Learn More
Last change: ↑0.66% on February 4. No Penalty CD.
Finworth, a division of InsBank	4.30%	$50,000	Learn More
Last change: ↓0.15% on September 23.
Total Bank, a division of City National Bank of Florida	4.25%	$25,000	Learn More
Last change: ↓0.16% on September 18. 3 Month CD.

Compound Interest Calculator CD 1-year Account from CHATTANOOGA AREA SCHOOLS with 5.15% APY and $2,000 minimum deposit