This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.
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| Year | Rate 2.00% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 1,000 | 700 |
| 2 | 51,000 | 1,020 | 714 |
| 3 | 52,020 | 1,040 | 728 |
| 4 | 53,060 | 1,061 | 743 |
| 5 | 54,122 | 1,082 | 758 |
| 6 | 55,204 | 1,104 | 773 |
| 7 | 56,308 | 1,126 | 788 |
| 8 | 57,434 | 1,149 | 804 |
| 9 | 58,583 | 1,172 | 820 |
| 10 | 59,755 | 1,195 | 837 |
| 11 | 60,950 | 1,219 | 853 |
| 12 | 62,169 | 1,243 | 870 |
| 13 | 63,412 | 1,268 | 888 |
| 14 | 64,680 | 1,294 | 906 |
| 15 | 65,974 | 1,319 | 924 |
| 16 | 67,293 | 1,346 | 942 |
| 17 | 68,639 | 1,373 | 961 |
| 18 | 70,012 | 1,400 | 980 |
| 19 | 71,412 | 1,428 | 1,000 |
| 20 | 72,841 | 1,457 | 1,020 |
| TOTAL | $24,297 | $17,008 |
All calculations are for demonstration purposes only.
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
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4.55% |
$5,000 |
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Last change: ↑0.15% on March 22. |
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4.55% |
$1,000 |
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Last change: ↓0.50% on October 1, 2024. |
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4.50% |
$500 |
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Last change: ↑0.20% on January 18. |
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4.50% |
$1,500 |
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Last change: ↓0.15% on January 25. |
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4.50% |
$500 |
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Last change: ↓0.50% on February 25. |
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