Compound Interest Calculator
CD Account from Department of Commerce with 4.34% 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
$6,733 over 10 years
Cash Savings $20,000
Average Interest Earned $678

 
Department of Commerce Interest Earned $7,411

 

 

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:
0.47%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 95 66
2 20,095 95 67
3 20,190 96 67
4 20,286 96 67
5 20,382 97 68
6 20,479 97 68
7 20,576 98 68
8 20,673 98 69
9 20,771 98 69
10 20,870 99 69
TOTAL: $968 $678

Department of Commerce Scenario

Rate:
4.34%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 868 608
2 20,868 906 634
3 21,774 945 661
4 22,719 986 690
5 23,705 1,029 720
6 24,733 1,073 751
7 25,807 1,120 784
8 26,927 1,169 818
9 28,095 1,219 854
10 29,315 1,272 891
TOTAL: $10,587 $7,411

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.