Compound Interest Calculator
CD 5-year Account from HORIZON with 1.16% APY and $10,000 minimum deposit

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The product CD 5-year Account from HORIZON with 1.16% APY and $10,000 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 $22,434. The interest earned would be $2,434 and the tax amount on the interest earned would be approximately $730.

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

The Results for HORIZON

Savings Boost of
$358 over 10 years

Cash Savings $20,000

Average Interest Earned $1,346

HORIZON Interest Earned $1,704

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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: 0.92%	Annual Interest	Annual Interest (After Tax)
1	20,000	184	129
2	20,184	186	130
3	20,371	188	131
4	20,558	190	133
5	20,748	191	134
6	20,939	193	135
7	21,132	195	136
8	21,327	197	138
9	21,524	198	139
10	21,722	200	140
	TOTAL:	$1,922	$1,346

HORIZON Scenario

	Rate: 1.16%	Annual Interest	Annual Interest (After Tax)
1	20,000	231	162
2	20,231	234	164
3	20,465	236	165
4	20,701	239	167
5	20,940	242	169
6	21,182	245	171
7	21,427	247	173
8	21,674	250	175
9	21,924	253	177
10	22,178	256	179
	TOTAL:	$2,434	$1,704

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.

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Compound Interest Calculator CD 5-year Account from HORIZON with 1.16% APY and $10,000 minimum deposit