Compound Interest Calculator
CD 2-year Account from City National Bank with 2.02% APY and $10,000 minimum deposit

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The product CD 2-year Account from City National Bank with 2.02% 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 $24,428. The interest earned would be $4,428 and the tax amount on the interest earned would be approximately $1,328.

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

The Results for City National Bank

Savings Boost of
$2,150 over 10 years

Cash Savings $20,000

Average Interest Earned $949

City National Bank Interest Earned $3,099

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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: 0.66%	Annual Interest	Annual Interest (After Tax)
1	20,000	132	92
2	20,132	132	93
3	20,264	133	93
4	20,397	134	94
5	20,532	135	95
6	20,667	136	95
7	20,803	137	96
8	20,940	138	96
9	21,077	139	97
10	21,216	140	98
	TOTAL:	$1,356	$949

City National Bank Scenario

	Rate: 2.02%	Annual Interest	Annual Interest (After Tax)
1	20,000	404	283
2	20,404	412	289
3	20,816	420	294
4	21,237	429	300
5	21,666	438	306
6	22,103	446	313
7	22,550	456	319
8	23,005	465	325
9	23,470	474	332
10	23,944	484	339
	TOTAL:	$4,428	$3,099

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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.

Recent Rate Changes

Date	APY
March 29, 2024	2.02%
December 6, 2023	2.53%

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Compound Interest Calculator CD 2-year Account from City National Bank with 2.02% APY and $10,000 minimum deposit