Compound Interest Calculator
CD 1-year Account from FLORIDA CENTRAL with 0.21% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from FLORIDA CENTRAL with 0.21% APY and $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 $20,424. The interest earned would be $424 and the tax amount on the interest earned would be approximately $127.

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 FLORIDA CENTRAL

Savings Boost of
$-507 over 10 years
Cash Savings $20,000
Average Interest Earned $804

 
FLORIDA CENTRAL Interest Earned $297

 

 

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:
0.56%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 112 78
2 20,112 113 79
3 20,225 113 79
4 20,338 114 80
5 20,452 115 80
6 20,566 115 81
7 20,681 116 81
8 20,797 116 82
9 20,914 117 82
10 21,031 118 82
TOTAL: $1,149 $804

FLORIDA CENTRAL Scenario

Rate:
0.21%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 42 29
2 20,042 42 29
3 20,084 42 30
4 20,126 42 30
5 20,169 42 30
6 20,211 42 30
7 20,253 43 30
8 20,296 43 30
9 20,338 43 30
10 20,381 43 30
TOTAL: $424 $297

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
October 6, 2023 0.21%


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