Compound Interest Calculator
CD Account from Department of Commerce with 4.40% 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
$6,926 over 10 years
Cash Savings $20,000
Average Interest Earned $608

 
Department of Commerce Interest Earned $7,534

 

 

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:
0.43%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 85 60
2 20,085 86 60
3 20,171 86 60
4 20,257 86 60
5 20,343 87 61
6 20,430 87 61
7 20,517 87 61
8 20,604 88 61
9 20,692 88 62
10 20,780 89 62
TOTAL: $869 $608

Department of Commerce Scenario

Rate:
4.40%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 880 616
2 20,880 919 643
3 21,799 959 671
4 22,758 1,001 701
5 23,759 1,045 732
6 24,805 1,091 764
7 25,896 1,139 798
8 27,035 1,190 833
9 28,225 1,242 869
10 29,467 1,297 908
TOTAL: $10,763 $7,534

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.