Compound Interest Calculator
Money Market Account from GULF STATES with 0.16% APY and $25,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from GULF STATES with 0.16% APY and $25,000 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 $20,322. The interest earned would be $322 and the tax amount on the interest earned would be approximately $97.

Please note that this product is available in Florida and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

Our records indicate that this institution has been acquired by MCCOY.

The Results for GULF STATES

Savings Boost of
$-90 over 10 years
Cash Savings $20,000
Average Interest Earned $315

 
GULF STATES Interest Earned $226

 

 

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 45 31
2 20,045 45 31
3 20,089 45 31
4 20,134 45 31
5 20,179 45 31
6 20,224 45 32
7 20,269 45 32
8 20,314 45 32
9 20,360 45 32
10 20,405 46 32
TOTAL: $451 $315

GULF STATES Scenario

Rate:
0.16%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 32 22
2 20,032 32 22
3 20,064 32 22
4 20,096 32 23
5 20,128 32 23
6 20,161 32 23
7 20,193 32 23
8 20,225 32 23
9 20,257 32 23
10 20,290 32 23
TOTAL: $322 $226

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

ONLINE BANKS APY? MIN?

Last change: ↑0.05% on August 24.
Warning: Early withdrawal penalty equals six months of interest.

Last change: ↑0.85% on August 31.

Last change: ↓0.45% on May 13.
6 Month CD.

Last change: ↑4.00% on November 24, 2023.