Compound Interest Calculator
CD Account from Modern Bank, National Association with 5.00% APY

Small differences in savings or CD rates may seem trivial. But, earning more in your savings and CD accounts can lead to much larger account balances balances over time when you examine the difference in compound interest over time. Use our calculator on the right below to see how much larger your accounts can be by moving to higher earning savings and CD rates.

Use or Change these Amounts And Rates

The Results for Modern Bank, National Association

Savings Boost of
$8,189 over 10 years
Cash Savings $20,000
Average Interest Earned $615

 
Modern Bank, National Association Interest Earned $8,805

 

 

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:
0.43%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 86 60
2 20,086 87 61
3 20,173 87 61
4 20,260 87 61
5 20,347 88 61
6 20,435 88 62
7 20,523 88 62
8 20,611 89 62
9 20,700 89 62
10 20,789 90 63
TOTAL: $879 $615

Modern Bank, National Association Scenario

Rate:
5.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,000 700
2 21,000 1,050 735
3 22,050 1,103 772
4 23,153 1,158 810
5 24,310 1,216 851
6 25,526 1,276 893
7 26,802 1,340 938
8 28,142 1,407 985
9 29,549 1,477 1,034
10 31,027 1,551 1,086
TOTAL: $12,578 $8,805

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.