Compound Interest Calculator
CD 5-year Account from First Century Bank with 1.09% APY and $10,000 minimum deposit

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The product CD 5-year Account from First Century Bank with 1.09% 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 $22,290. The interest earned would be $2,290 and the tax amount on the interest earned would be approximately $687.

Please note that this product is available in Tennessee 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 Century Bank

Savings Boost of
$270 over 10 years

Cash Savings $20,000

Average Interest Earned $1,334

First Century Bank Interest Earned $1,603

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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: 0.91%	Annual Interest	Annual Interest (After Tax)
1	20,000	183	128
2	20,183	184	129
3	20,367	186	130
4	20,553	188	132
5	20,741	190	133
6	20,931	191	134
7	21,122	193	135
8	21,315	195	136
9	21,510	197	138
10	21,707	198	139
	TOTAL:	$1,905	$1,334

First Century Bank Scenario

	Rate: 1.09%	Annual Interest	Annual Interest (After Tax)
1	20,000	218	153
2	20,218	220	154
3	20,438	223	156
4	20,661	225	158
5	20,886	228	159
6	21,114	230	161
7	21,344	233	163
8	21,577	235	165
9	21,812	238	166
10	22,050	240	168
	TOTAL:	$2,290	$1,603

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 Century Bank

Rand

March 1, 2021

And yet again. Two more CD rates offered on this date only on this site not by the bank.

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Compound Interest Calculator CD 5-year Account from First Century Bank with 1.09% APY and $10,000 minimum deposit