Compound Interest Calculator
Money Market Account from Sallie Mae Bank with 0.99% 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 Sallie Mae Bank

Savings Boost of
$1,280 over 10 years
Cash Savings $20,000
Average Interest Earned $169

 
Sallie Mae Bank Interest Earned $1,449

 

 

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:
0.12%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 24 17
2 20,024 24 17
3 20,048 24 17
4 20,072 24 17
5 20,096 24 17
6 20,120 24 17
7 20,144 24 17
8 20,169 24 17
9 20,193 24 17
10 20,217 24 17
TOTAL: $241 $169

Sallie Mae Bank Scenario

Rate:
0.99%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 198 139
2 20,198 200 140
3 20,398 202 141
4 20,600 204 143
5 20,804 206 144
6 21,010 208 146
7 21,218 210 147
8 21,428 212 148
9 21,640 214 150
10 21,854 216 151
TOTAL: $2,071 $1,449

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.