Compound Interest Calculator
CD 1-year Account from FIRST COMMERCE with 2.70% APY and $1,000 minimum deposit

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The product CD 1-year Account from FIRST COMMERCE with 2.70% APY and $1,000 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 $26,106. The interest earned would be $6,106 and the tax amount on the interest earned would be approximately $1,832.

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 FIRST COMMERCE

Savings Boost of
$3,477 over 10 years

Cash Savings $20,000

Average Interest Earned $797

FIRST COMMERCE Interest Earned $4,274

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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: 0.56%	Annual Interest	Annual Interest (After Tax)
1	20,000	111	78
2	20,111	112	78
3	20,223	112	79
4	20,335	113	79
5	20,448	113	79
6	20,561	114	80
7	20,675	115	80
8	20,790	115	81
9	20,905	116	81
10	21,021	117	82
	TOTAL:	$1,138	$797

FIRST COMMERCE Scenario

	Rate: 2.70%	Annual Interest	Annual Interest (After Tax)
1	20,000	540	378
2	20,540	555	388
3	21,095	570	399
4	21,664	585	409
5	22,249	601	421
6	22,850	617	432
7	23,467	634	444
8	24,100	651	455
9	24,751	668	468
10	25,419	686	480
	TOTAL:	$6,106	$4,274

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
September 22, 2024	2.70%
August 16, 2024	4.50%
August 2, 2024	4.75%
March 6, 2024	5.00%
August 19, 2023	2.70%

Featured CD Rates

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Compound Interest Calculator CD 1-year Account from FIRST COMMERCE with 2.70% APY and $1,000 minimum deposit