Compound Interest Calculator
CD 5-year Account from DEPARTMENT OF PUBLIC SAFETY with 2.00% APY and $80,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

DEPARTMENT OF PUBLIC SAFETY Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 5-year Account from DEPARTMENT OF PUBLIC SAFETY with 2.00% APY and $80,000 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 $24,380. The interest earned would be $4,380 and the tax amount on the interest earned would be approximately $1,314.

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 DEPARTMENT OF PUBLIC SAFETY

Savings Boost of
$1,731 over 10 years

Cash Savings $20,000

Average Interest Earned $1,335

DEPARTMENT OF PUBLIC SAFETY Interest Earned $3,066

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: 0.92%	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

DEPARTMENT OF PUBLIC SAFETY Scenario

	Rate: 2.00%	Annual Interest	Annual Interest (After Tax)
1	20,000	400	280
2	20,400	408	286
3	20,808	416	291
4	21,224	424	297
5	21,649	433	303
6	22,082	442	309
7	22,523	450	315
8	22,974	459	322
9	23,433	469	328
10	23,902	478	335
	TOTAL:	$4,380	$3,066

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 19, 2023	2.00%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
My e-Banc, a division of Bradesco BAC Florida Bank	5.00%	$50,000	Learn More
Last change: ↑0.25% on October 28. 6 Month Jumbo CD.
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↑0.20% on October 28. Early Withdrawal Penalty is 3 months interest.
Finworth, a division of InsBank	4.75%	$50,000	Learn More
Last change: ↑0.25% on November 25.

Compound Interest Calculator CD 5-year Account from DEPARTMENT OF PUBLIC SAFETY with 2.00% APY and $80,000 minimum deposit