Compound Interest Calculator
CD 5-year Account from CONNEX with 1.90% APY and $500 minimum deposit

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The product CD 5-year Account from CONNEX with 1.90% APY and $500 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 $24,142. The interest earned would be $4,142 and the tax amount on the interest earned would be approximately $1,243.

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 CONNEX

Savings Boost of
$1,564 over 10 years

Cash Savings $20,000

Average Interest Earned $1,335

CONNEX Interest Earned $2,899

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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

CONNEX Scenario

	Rate: 1.90%	Annual Interest	Annual Interest (After Tax)
1	20,000	380	266
2	20,380	387	271
3	20,767	395	276
4	21,162	402	281
5	21,564	410	287
6	21,974	417	292
7	22,391	425	298
8	22,817	434	303
9	23,250	442	309
10	23,692	450	315
	TOTAL:	$4,142	$2,899

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.

Recent Rate Changes

Date	APY
August 2, 2024	1.90%

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Compound Interest Calculator CD 5-year Account from CONNEX with 1.90% APY and $500 minimum deposit