Compound Interest Calculator
CD 5-year Account from EGLIN with 3.71% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from EGLIN with 3.71% APY and $2,500 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 $28,790. The interest earned would be $8,790 and the tax amount on the interest earned would be approximately $2,637.

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 EGLIN

Savings Boost of
$4,819 over 10 years
Cash Savings $20,000
Average Interest Earned $1,334

 
EGLIN Interest Earned $6,153

 

 

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:
0.91%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 183 128
2 20,183 184 129
3 20,367 186 130
4 20,553 188 132
5 20,741 190 133
6 20,931 191 134
7 21,122 193 135
8 21,315 195 136
9 21,510 197 138
10 21,707 198 139
TOTAL: $1,905 $1,334

EGLIN Scenario

Rate:
3.71%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 742 519
2 20,742 770 539
3 21,512 798 559
4 22,310 828 579
5 23,137 858 601
6 23,996 890 623
7 24,886 923 646
8 25,809 958 670
9 26,767 993 695
10 27,760 1,030 721
TOTAL: $8,790 $6,153

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
August 19, 2023 3.71%


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