Compound Interest Calculator
CD Account from FIRST EDUCATION with 1.00% APY

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The product CD Account from FIRST EDUCATION with 1.00% 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 $22,101. The interest earned would be $2,101 and the tax amount on the interest earned would be approximately $630.

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 EDUCATION

Savings Boost of
$298 over 10 years

Cash Savings $20,000

Average Interest Earned $1,173

FIRST EDUCATION Interest Earned $1,471

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: 0.81%	Annual Interest	Annual Interest (After Tax)
1	20,000	162	113
2	20,162	163	114
3	20,325	164	115
4	20,489	166	116
5	20,654	167	117
6	20,821	168	118
7	20,989	170	119
8	21,159	171	120
9	21,330	172	121
10	21,502	174	122
	TOTAL:	$1,676	$1,173

FIRST EDUCATION Scenario

	Rate: 1.00%	Annual Interest	Annual Interest (After Tax)
1	20,000	201	141
2	20,201	203	142
3	20,404	205	143
4	20,608	207	145
5	20,815	209	146
6	21,024	211	148
7	21,235	213	149
8	21,449	215	151
9	21,664	218	152
10	21,882	220	154
	TOTAL:	$2,101	$1,471

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.

Featured CD Rates

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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
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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 EDUCATION with 1.00% APY