Compound Interest Calculator
CD 1-year Account from BAY with 0.31% APY and $100,000 minimum deposit

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The product CD 1-year Account from BAY with 0.31% 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 $20,629. The interest earned would be $629 and the tax amount on the interest earned would be approximately $189.

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

The Results for BAY

Savings Boost of
$-352 over 10 years

Cash Savings $20,000

Average Interest Earned $792

BAY Interest Earned $440

Compare

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: 0.55%	Annual Interest	Annual Interest (After Tax)
1	20,000	110	77
2	20,110	111	78
3	20,221	112	78
4	20,333	112	79
5	20,445	113	79
6	20,558	113	79
7	20,672	114	80
8	20,786	115	80
9	20,900	115	81
10	21,016	116	81
	TOTAL:	$1,132	$792

BAY Scenario

	Rate: 0.31%	Annual Interest	Annual Interest (After Tax)
1	20,000	62	43
2	20,062	62	44
3	20,124	62	44
4	20,187	63	44
5	20,249	63	44
6	20,312	63	44
7	20,375	63	44
8	20,438	63	44
9	20,501	64	44
10	20,565	64	45
	TOTAL:	$629	$440

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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Compound Interest Calculator CD 1-year Account from BAY with 0.31% APY and $100,000 minimum deposit