Compound Interest Calculator
CD 3-month Account from First Federal Savings Bank with 4.79% APY and $500 minimum deposit

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The product CD 3-month Account from First Federal Savings Bank with 4.79% 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 $31,932. The interest earned would be $11,932 and the tax amount on the interest earned would be approximately $3,580.

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 First Federal Savings Bank

Savings Boost of
$8,034 over 10 years

Cash Savings $20,000

Average Interest Earned $318

First Federal Savings Bank Interest Earned $8,353

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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: 0.23%	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 Federal Savings Bank Scenario

	Rate: 4.79%	Annual Interest	Annual Interest (After Tax)
1	20,000	958	671
2	20,958	1,004	703
3	21,962	1,052	736
4	23,014	1,102	772
5	24,116	1,155	809
6	25,271	1,210	847
7	26,482	1,268	888
8	27,750	1,329	930
9	29,080	1,393	975
10	30,473	1,460	1,022
	TOTAL:	$11,932	$8,353

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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 14, 2024	4.79%
September 4, 2024	5.01%
January 17, 2024	0.15%
January 17, 2024	1.00%

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Compound Interest Calculator CD 3-month Account from First Federal Savings Bank with 4.79% APY and $500 minimum deposit