Compound Interest Calculator
CD 5-year Account from EMPOWER with 3.90% APY and $500 minimum deposit

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The product CD 5-year Account from EMPOWER with 3.90% 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 $29,321. The interest earned would be $9,321 and the tax amount on the interest earned would be approximately $2,796.

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
$5,190 over 10 years

Cash Savings $20,000

Average Interest Earned $1,335

EMPOWER Interest Earned $6,525

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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

EMPOWER Scenario

	Rate: 3.90%	Annual Interest	Annual Interest (After Tax)
1	20,000	780	546
2	20,780	810	567
3	21,590	842	589
4	22,432	875	612
5	23,307	909	636
6	24,216	944	661
7	25,161	981	687
8	26,142	1,020	714
9	27,162	1,059	742
10	28,221	1,101	770
	TOTAL:	$9,321	$6,525

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	3.90%
August 19, 2023	3.15%

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.
ableBanking, a division of Northeast Bank	4.70%	$500	Learn More
Last change: ↓0.50% on October 1.

Compound Interest Calculator CD 5-year Account from EMPOWER with 3.90% APY and $500 minimum deposit