The product Money Market Account from Academy Bank, National Association with 0.10% APY and $10,000 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 $20,201. The interest earned would be $201 and the tax amount on the interest earned would be approximately $60.
Please note that this product is available in Missouri and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
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.
| 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 |
| Rate: 0.10% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 20 | 14 |
| 2 | 20,020 | 20 | 14 |
| 3 | 20,040 | 20 | 14 |
| 4 | 20,060 | 20 | 14 |
| 5 | 20,080 | 20 | 14 |
| 6 | 20,100 | 20 | 14 |
| 7 | 20,120 | 20 | 14 |
| 8 | 20,140 | 20 | 14 |
| 9 | 20,161 | 20 | 14 |
| 10 | 20,181 | 20 | 14 |
| TOTAL: | $201 | $141 |
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.
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
5.51% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on May 13. |
||||
|
|
5.34% |
$500 |
Learn More | |
|
|
5.30% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on August 7. |
||||
|
|
5.20% |
$500 |
Learn More | |
|
Last change: ↓0.10% on August 16. |
||||
|
|
5.20% |
$2,500 |
Learn More | |
|
Last change: ↑5.10% on August 12. |
||||
Customer Reviews for Academy Bank, National Association (6)
Fran1
February 4, 2020 |
Academy was great helping me open a new account
Is this review helpful? Yes:0 / No: 0
Dogwood5
February 4, 2020 |
Great bank in Scottsdale very helpful people
Is this review helpful? Yes:0 / No: 0
Grady
February 14, 2019 |
We had a great experience in Greeley. Very friendly, helpful and efficient
Is this review helpful? Yes:0 / No: 0
RS
January 14, 2019 |
This is the most unfriendly, uncooperative bank I have ever seen. The person I finally got to said they were not interested in new business!
Is this review helpful? Yes:1 / No: 0
MAC
June 16, 2018 | Replies 1
AVOID this BANK like the BUBONIC PLAGUE. This entity should not be allowed to operate as a bank. What a horrific experience I had when I opened a simple CD. 100% incompetence at all levels!!
Is this review helpful? Yes:1 / No: 0
Dano | Nov 9, 2018
Which branch? Can you be more specific about the problem(s)
Add Your Review
or use your BestCashCow account