Compound Interest Calculator
CD 1-year Account from The Farmers Bank of Appomattox with 3.25% APY and $5,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

The Farmers Bank of Appomattox Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 1-year Account from The Farmers Bank of Appomattox with 3.25% APY and $5,000 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 $27,538. The interest earned would be $7,538 and the tax amount on the interest earned would be approximately $2,261.

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 The Farmers Bank of Appomattox

Savings Boost of
$4,472 over 10 years

Cash Savings $20,000

Average Interest Earned $804

The Farmers Bank of Appomattox Interest Earned $5,277

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: 0.56%	Annual Interest	Annual Interest (After Tax)
1	20,000	112	78
2	20,112	113	79
3	20,225	113	79
4	20,338	114	80
5	20,452	115	80
6	20,566	115	81
7	20,681	116	81
8	20,797	116	82
9	20,914	117	82
10	21,031	118	82
	TOTAL:	$1,149	$804

The Farmers Bank of Appomattox Scenario

	Rate: 3.25%	Annual Interest	Annual Interest (After Tax)
1	20,000	650	455
2	20,650	671	470
3	21,321	693	485
4	22,014	715	501
5	22,730	739	517
6	23,468	763	534
7	24,231	788	551
8	25,018	813	569
9	25,832	840	588
10	26,671	867	607
	TOTAL:	$7,538	$5,277

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
February 9, 2024	3.25%
February 9, 2024	1.00%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Blue Foundry Bank	6.00%	$5,000	Learn More
5 Month CD Special. Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%.
TotalDirect, a division of City National Bank of Florida	5.51%	$25,000	Learn More
Last change: ↓0.15% on May 13. 3 Month CD.
Charles Schwab Bank, SSB	5.46%	$1,000	Learn More
Last change: ↓0.05% on May 9.
My e-Banc, a division of Bradesco BAC Florida Bank	5.45%	$50,000	Learn More
Last change: ↓0.04% on July 5. 6 Month Jumbo CD.
Northern Bank Direct	5.40%	$500	Learn More
Last change: ↑0.90% on May 7.

Compound Interest Calculator CD 1-year Account from The Farmers Bank of Appomattox with 3.25% APY and $5,000 minimum deposit