Compound Interest Calculator
CD 2-year Account from New Dominion Direct with 1.85% APY and $1,000 minimum deposit

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The product CD 2-year Account from New Dominion Direct with 1.85% APY and $1,000 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 $24,024. The interest earned would be $4,024 and the tax amount on the interest earned would be approximately $1,207.

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 New Dominion Direct

Savings Boost of
$1,863 over 10 years

Cash Savings $20,000

Average Interest Earned $953

New Dominion Direct Interest Earned $2,817

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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: 0.66%	Annual Interest	Annual Interest (After Tax)
1	20,000	132	93
2	20,132	133	93
3	20,265	134	94
4	20,399	135	94
5	20,534	136	95
6	20,670	137	96
7	20,806	138	96
8	20,944	138	97
9	21,082	139	98
10	21,222	140	98
	TOTAL:	$1,362	$953

New Dominion Direct Scenario

	Rate: 1.85%	Annual Interest	Annual Interest (After Tax)
1	20,000	370	259
2	20,370	377	264
3	20,747	384	269
4	21,131	391	274
5	21,522	398	279
6	21,920	406	284
7	22,325	413	289
8	22,738	421	294
9	23,159	428	300
10	23,587	436	305
	TOTAL:	$4,024	$2,817

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 2-year Account from New Dominion Direct with 1.85% APY and $1,000 minimum deposit