Compound Interest Calculator
CD 4-year Account from MainStreet Bank with 0.95% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 4-year Account from MainStreet Bank with 0.95% 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 $21,983. The interest earned would be $1,983 and the tax amount on the interest earned would be approximately $595.

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

The Results for MainStreet Bank

Savings Boost of
$209 over 10 years
Cash Savings $20,000
Average Interest Earned $1,179

 
MainStreet Bank Interest Earned $1,388

 

 

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 20,000 162 114
2 20,162 164 115
3 20,326 165 116
4 20,491 166 116
5 20,658 168 117
6 20,825 169 118
7 20,994 170 119
8 21,165 172 120
9 21,337 173 121
10 21,510 175 122
TOTAL: $1,685 $1,179

MainStreet Bank Scenario

Rate:
0.95%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 190 133
2 20,190 192 134
3 20,382 194 136
4 20,575 195 137
5 20,771 197 138
6 20,968 199 139
7 21,167 201 141
8 21,369 203 142
9 21,572 205 143
10 21,776 207 145
TOTAL: $1,983 $1,388

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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