Compound Interest Calculator
CD 3-year Account from ALABAMA RURAL ELECTRIC with 1.41% APY and $10,000 minimum deposit

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The product CD 3-year Account from ALABAMA RURAL ELECTRIC with 1.41% 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 $23,006. The interest earned would be $3,006 and the tax amount on the interest earned would be approximately $902.

Please note that this product is available in Alabama and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for ALABAMA RURAL ELECTRIC

Savings Boost of
$1,018 over 10 years

Cash Savings $20,000

Average Interest Earned $1,086

ALABAMA RURAL ELECTRIC Interest Earned $2,104

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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: 0.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	150	105
2	20,150	151	106
3	20,301	152	107
4	20,453	153	107
5	20,607	155	108
6	20,761	156	109
7	20,917	157	110
8	21,074	158	111
9	21,232	159	111
10	21,391	160	112
	TOTAL:	$1,552	$1,086

ALABAMA RURAL ELECTRIC Scenario

	Rate: 1.41%	Annual Interest	Annual Interest (After Tax)
1	20,000	282	197
2	20,282	286	200
3	20,568	290	203
4	20,858	294	206
5	21,152	298	209
6	21,450	302	212
7	21,753	307	215
8	22,059	311	218
9	22,371	315	221
10	22,686	320	224
	TOTAL:	$3,006	$2,104

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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.

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Compound Interest Calculator CD 3-year Account from ALABAMA RURAL ELECTRIC with 1.41% APY and $10,000 minimum deposit