Compound Interest Calculator
Money Market Account from GTE with 1.57% APY and $250,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from GTE with 1.57% APY and $250,000 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 $23,371. The interest earned would be $3,371 and the tax amount on the interest earned would be approximately $1,011.

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 GTE

Savings Boost of
$2,047 over 10 years
Cash Savings $20,000
Average Interest Earned $312

 
GTE Interest Earned $2,360

 

 

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:
0.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 44 31
2 20,044 44 31
3 20,088 44 31
4 20,133 44 31
5 20,177 45 31
6 20,222 45 31
7 20,267 45 31
8 20,311 45 31
9 20,356 45 31
10 20,401 45 32
TOTAL: $446 $312

GTE Scenario

Rate:
1.57%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 314 220
2 20,314 319 223
3 20,633 324 227
4 20,957 329 230
5 21,286 334 234
6 21,620 339 238
7 21,960 345 241
8 22,304 350 245
9 22,654 356 249
10 23,010 361 253
TOTAL: $3,371 $2,360

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 1, 2023 1.57%
August 20, 2023 1.41%


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Customer Reviews for Gte


  • August 15, 2019 |

    Online CDs 60 Month Rates

    I applied for a jumbo CD account over two weeks ago. They asked me for more documentation than my mortgage company did and then they did a hard credit pull. They advertise fast and simple they are simply not. I’ve provided everything (my drivers license, social security card, complete bank statement, picture of my debit card and a copy of my utility bill) and the account still isn't open. Absolute worst customer service ever.


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