Compound Interest Calculator
CD Account from FIRST COMMUNITY with 3.70% APY

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

FIRST COMMUNITY Rate (%):

Compound Interest Period:

Tax Rate:

Email (optional for newsletter registration)

Please leave this field blank

The product CD Account from FIRST COMMUNITY with 3.70% APY 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 $28,762. The interest earned would be $8,762 and the tax amount on the interest earned would be approximately $2,629.

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 COMMUNITY

Savings Boost of
$5,050 over 10 years

Cash Savings $20,000

Average Interest Earned $1,083

FIRST COMMUNITY Interest Earned $6,133

Compare

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: 0.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	150	105
2	20,150	151	106
3	20,300	152	106
4	20,452	153	107
5	20,605	154	108
6	20,759	155	109
7	20,915	156	110
8	21,071	158	110
9	21,229	159	111
10	21,387	160	112
	TOTAL:	$1,547	$1,083

FIRST COMMUNITY Scenario

	Rate: 3.70%	Annual Interest	Annual Interest (After Tax)
1	20,000	740	518
2	20,740	767	537
3	21,507	796	557
4	22,303	825	578
5	23,128	856	599
6	23,984	887	621
7	24,872	920	644
8	25,792	954	668
9	26,746	990	693
10	27,736	1,026	718
	TOTAL:	$8,762	$6,133

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
April 15, 2024	3.70%
December 15, 2023	3.80%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Blue Foundry Bank	6.00%	$5,000	Learn More
6 Month CD Special. Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%.
TotalDirect, a division of City National Bank of Florida	5.66%	$25,000	Learn More
Last change: ↑0.46% on December 15, 2023. 3 Month CD.
Northern Bank Direct	5.60%	$500	Learn More
Last change: ↑0.60% on April 19. Warning: Early Withdrawal Penalty is 12 Months interest.
Bank5 Connect	5.50%	$500	Learn More
Last change: ↑0.20% on September 8, 2023. 6 Month CD.
Modern Bank, National Association	5.50%	$10,000	Learn More
Last change: ↓0.05% on March 15. 3 Month CD.

Compound Interest Calculator CD Account from FIRST COMMUNITY with 3.70% APY