Compound Interest Calculator
CD 3-year Account from Clay County Bank, Inc. with 0.40% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Clay County Bank, Inc. with 0.40% APY and $1,000 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 $20,815. The interest earned would be $815 and the tax amount on the interest earned would be approximately $244.

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

The Results for Clay County Bank, Inc.

Savings Boost of
$-516 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
Clay County Bank, Inc. Interest Earned $570

 

 

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:
0.75%
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

Clay County Bank, Inc. Scenario

Rate:
0.40%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 80 56
2 20,080 80 56
3 20,160 81 56
4 20,241 81 57
5 20,322 81 57
6 20,403 82 57
7 20,485 82 57
8 20,567 82 58
9 20,649 83 58
10 20,732 83 58
TOTAL: $815 $570

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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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