Compound Interest Calculator
CD 4-year Account from EMPOWER with 3.80% APY and $500 minimum deposit

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The product CD 4-year Account from EMPOWER with 3.80% 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 $29,040. The interest earned would be $9,040 and the tax amount on the interest earned would be approximately $2,712.

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 EMPOWER

Savings Boost of
$5,148 over 10 years

Cash Savings $20,000

Average Interest Earned $1,181

EMPOWER Interest Earned $6,328

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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: 0.81%	Annual Interest	Annual Interest (After Tax)
1	20,000	163	114
2	20,163	164	115
3	20,327	165	116
4	20,492	167	117
5	20,658	168	118
6	20,826	169	119
7	20,996	171	119
8	21,166	172	120
9	21,338	173	121
10	21,512	175	122
	TOTAL:	$1,687	$1,181

EMPOWER Scenario

	Rate: 3.80%	Annual Interest	Annual Interest (After Tax)
1	20,000	760	532
2	20,760	789	552
3	21,549	819	573
4	22,368	850	595
5	23,218	882	618
6	24,100	916	641
7	25,016	951	665
8	25,966	987	691
9	26,953	1,024	717
10	27,977	1,063	744
	TOTAL:	$9,040	$6,328

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
October 22, 2024	3.80%
August 19, 2023	3.10%

Featured CD Rates

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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
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OneLocal Bank	4.90%	$10,000	Learn More
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My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
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ableBanking, a division of Northeast Bank	4.70%	$500	Learn More
Last change: ↓0.50% on October 1.

Compound Interest Calculator CD 4-year Account from EMPOWER with 3.80% APY and $500 minimum deposit