Compound Interest Calculator
Money Market Account from First Arkansas Bank and Trust with 0.05% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from First Arkansas Bank and Trust with 0.05% 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 $20,100. The interest earned would be $100 and the tax amount on the interest earned would be approximately $30.

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

The Results for First Arkansas Bank and Trust

Savings Boost of
$-248 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
First Arkansas Bank and Trust Interest Earned $70

 

 

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:
0.23%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 32
2 20,045 45 32
3 20,090 45 32
4 20,135 45 32
5 20,181 45 32
6 20,226 46 32
7 20,272 46 32
8 20,317 46 32
9 20,363 46 32
10 20,409 46 32
TOTAL: $455 $318

First Arkansas Bank and Trust Scenario

Rate:
0.05%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 10 7
2 20,010 10 7
3 20,020 10 7
4 20,030 10 7
5 20,040 10 7
6 20,050 10 7
7 20,060 10 7
8 20,070 10 7
9 20,080 10 7
10 20,090 10 7
TOTAL: $100 $70

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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Customer Reviews for First Arkansas Bank and Trust


  • August 4, 2023 |

    Our Mastercard was transferred to this bank 10 yrs ago. One account--two cards. Fraud on EACH card began occurring in April 2023. Their fraud group cancelled each compromised card and issued new ones each time. They did this three times for each card. Every single card was hacked. They were too incompetent to see something was wrong and stop issuing new cards. THE ACCOUNT WAS HACKED--NOT THE CARDS. They keep demanding payments on these cards that are not our charges. We will probably soon file a complaint with the Arkansas Banking Commission and have already reported this to FTC. Our FICO score was 840 when this started. TOTALLY INCOMPETENT BANK!!!!!


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