Compound Interest Calculator
CD 5-year Account from FINGER LAKES with 1.10% APY and $10,000 minimum deposit

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The product CD 5-year Account from FINGER LAKES with 1.10% APY and $10,000 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 $22,321. The interest earned would be $2,321 and the tax amount on the interest earned would be approximately $696.

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

The Results for FINGER LAKES

Savings Boost of
$285 over 10 years

Cash Savings $20,000

Average Interest Earned $1,340

FINGER LAKES Interest Earned $1,625

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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	184	129
2	20,184	185	130
3	20,369	187	131
4	20,556	189	132
5	20,745	190	133
6	20,935	192	135
7	21,127	194	136
8	21,321	196	137
9	21,517	198	138
10	21,714	199	140
	TOTAL:	$1,914	$1,340

FINGER LAKES Scenario

	Rate: 1.10%	Annual Interest	Annual Interest (After Tax)
1	20,000	221	155
2	20,221	223	156
3	20,444	226	158
4	20,670	228	160
5	20,898	231	161
6	21,129	233	163
7	21,362	236	165
8	21,598	238	167
9	21,836	241	169
10	22,077	244	171
	TOTAL:	$2,321	$1,625

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.

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Compound Interest Calculator CD 5-year Account from FINGER LAKES with 1.10% APY and $10,000 minimum deposit