Compound Interest Calculator
Money Market Account from CITY with 1.55% APY and $50,000 minimum deposit

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The product Money Market Account from CITY with 1.55% APY and $50,000 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 $23,325. The interest earned would be $3,325 and the tax amount on the interest earned would be approximately $998.

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 CITY

Savings Boost of
$2,015 over 10 years

Cash Savings $20,000

Average Interest Earned $312

CITY Interest Earned $2,328

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: 0.22%	Annual Interest	Annual Interest (After Tax)
1	20,000	44	31
2	20,044	44	31
3	20,088	44	31
4	20,133	44	31
5	20,177	45	31
6	20,222	45	31
7	20,267	45	31
8	20,311	45	31
9	20,356	45	31
10	20,401	45	32
	TOTAL:	$446	$312

CITY Scenario

	Rate: 1.55%	Annual Interest	Annual Interest (After Tax)
1	20,000	310	217
2	20,310	315	220
3	20,625	320	224
4	20,944	325	227
5	21,269	330	231
6	21,599	335	234
7	21,934	340	238
8	22,274	345	242
9	22,619	351	245
10	22,969	356	249
	TOTAL:	$3,325	$2,328

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
February 3, 2025	1.55%
August 31, 2024	1.65%
November 7, 2023	1.85%

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 Money Market Account from CITY with 1.55% APY and $50,000 minimum deposit