Compound Interest Calculator
CD Account from DEPARTMENT OF COMMERCE with 2.15% APY

Small differences in savings or CD rates may seem trivial. But, earning more in your savings and CD accounts can lead to much larger account balances balances over time when you examine the difference in compound interest over time. Use our calculator on the right below to see how much larger your accounts can be by moving to higher earning savings and CD rates.

Use or Change these Amounts And Rates

The Results for DEPARTMENT OF COMMERCE

Savings Boost of
$2,744 over 10 years
Cash Savings $20,000
Average Interest Earned $575

 
DEPARTMENT OF COMMERCE Interest Earned $3,319

 

 

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:
0.40%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 81 56
2 20,081 81 57
3 20,162 81 57
4 20,243 82 57
5 20,324 82 57
6 20,406 82 58
7 20,488 83 58
8 20,571 83 58
9 20,654 83 58
10 20,737 84 58
TOTAL: $821 $575

DEPARTMENT OF COMMERCE Scenario

Rate:
2.15%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 430 301
2 20,430 439 307
3 20,869 449 314
4 21,318 458 321
5 21,776 468 328
6 22,244 478 335
7 22,723 489 342
8 23,211 499 349
9 23,710 510 357
10 24,220 521 365
TOTAL: $4,741 $3,319

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.