Compound Interest Calculator
CD 3-year Account from Frontier Bank with 1.60% APY and $50,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Frontier Bank with 1.60% APY and $50,000 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 $23,441. The interest earned would be $3,441 and the tax amount on the interest earned would be approximately $1,032.

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

The Results for Frontier Bank

Savings Boost of
$1,316 over 10 years
Cash Savings $20,000
Average Interest Earned $1,092

 
Frontier Bank Interest Earned $2,408

 

 

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:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 151 106
2 20,151 152 106
3 20,303 153 107
4 20,456 154 108
5 20,610 155 109
6 20,765 157 110
7 20,922 158 110
8 21,080 159 111
9 21,239 160 112
10 21,399 161 113
TOTAL: $1,560 $1,092

Frontier Bank Scenario

Rate:
1.60%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 320 224
2 20,320 325 228
3 20,645 330 231
4 20,975 336 235
5 21,311 341 239
6 21,652 346 243
7 21,998 352 246
8 22,350 358 250
9 22,708 363 254
10 23,071 369 258
TOTAL: $3,441 $2,408

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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