Compound Interest Calculator
Money Market Account from WHEAT STATE with 0.50% APY and $5,000 minimum deposit

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The product Money Market Account from WHEAT STATE with 0.50% 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 $21,023. The interest earned would be $1,023 and the tax amount on the interest earned would be approximately $307.

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 WHEAT STATE

Savings Boost of
$401 over 10 years

Cash Savings $20,000

Average Interest Earned $315

WHEAT STATE Interest Earned $716

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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: 0.22%	Annual Interest	Annual Interest (After Tax)
1	20,000	45	31
2	20,045	45	31
3	20,089	45	31
4	20,134	45	31
5	20,179	45	31
6	20,224	45	32
7	20,269	45	32
8	20,314	45	32
9	20,360	45	32
10	20,405	46	32
	TOTAL:	$451	$315

WHEAT STATE Scenario

	Rate: 0.50%	Annual Interest	Annual Interest (After Tax)
1	20,000	100	70
2	20,100	101	70
3	20,201	101	71
4	20,302	102	71
5	20,403	102	71
6	20,505	103	72
7	20,608	103	72
8	20,711	104	72
9	20,814	104	73
10	20,918	105	73
	TOTAL:	$1,023	$716

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
August 19, 2023	0.50%

Featured CD Rates

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Brilliant Bank, a division of Equity Bank	4.55%	$1,000	Learn More
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Compound Interest Calculator Money Market Account from WHEAT STATE with 0.50% APY and $5,000 minimum deposit