Compound Interest Calculator
CD 5-year Account from Bank of Newington with 1.33% APY and $100,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from Bank of Newington with 1.33% APY and $100,000 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 $22,825. The interest earned would be $2,825 and the tax amount on the interest earned would be approximately $847.

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

The Results for Bank of Newington

Savings Boost of
$642 over 10 years
Cash Savings $20,000
Average Interest Earned $1,335

 
Bank of Newington Interest Earned $1,977

 

 

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:
0.92%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 183 128
2 20,183 185 129
3 20,368 186 130
4 20,554 188 132
5 20,742 190 133
6 20,932 192 134
7 21,123 193 135
8 21,317 195 137
9 21,512 197 138
10 21,709 199 139
TOTAL: $1,907 $1,335

Bank of Newington Scenario

Rate:
1.33%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 266 186
2 20,266 270 189
3 20,536 273 191
4 20,809 277 194
5 21,085 280 196
6 21,366 284 199
7 21,650 288 202
8 21,938 292 204
9 22,230 296 207
10 22,525 300 210
TOTAL: $2,825 $1,977

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.



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