Compound Interest Calculator
CD Account from MCCOY with 1.61% APY

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The product CD Account from MCCOY with 1.61% APY 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 $23,468. The interest earned would be $3,468 and the tax amount on the interest earned would be approximately $1,040.

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 MCCOY

Savings Boost of
$2,124 over 10 years

Cash Savings $20,000

Average Interest Earned $304

MCCOY Interest Earned $2,428

Compare

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	43	30
2	20,043	43	30
3	20,086	43	30
4	20,129	43	30
5	20,173	43	30
6	20,216	43	30
7	20,259	44	30
8	20,303	44	31
9	20,347	44	31
10	20,390	44	31
	TOTAL:	$434	$304

MCCOY Scenario

	Rate: 1.61%	Annual Interest	Annual Interest (After Tax)
1	20,000	322	226
2	20,322	328	229
3	20,650	333	233
4	20,983	338	237
5	21,321	344	241
6	21,665	349	244
7	22,014	355	248
8	22,369	361	252
9	22,730	366	256
10	23,096	372	261
	TOTAL:	$3,468	$2,428

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 29, 2023	1.61%

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Compound Interest Calculator CD Account from MCCOY with 1.61% APY