Compound Interest Calculator
CD 2-year Account from GEORGIA'S OWN with 2.97% APY and $500 minimum deposit

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The product CD 2-year Account from GEORGIA'S OWN with 2.97% 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 $26,800. The interest earned would be $6,800 and the tax amount on the interest earned would be approximately $2,040.

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

The Results for GEORGIA'S OWN

Savings Boost of
$3,810 over 10 years

Cash Savings $20,000

Average Interest Earned $950

GEORGIA'S OWN Interest Earned $4,760

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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: 0.66%	Annual Interest	Annual Interest (After Tax)
1	20,000	132	92
2	20,132	133	93
3	20,264	134	93
4	20,398	134	94
5	20,532	135	95
6	20,668	136	95
7	20,804	137	96
8	20,941	138	97
9	21,079	139	97
10	21,218	140	98
	TOTAL:	$1,358	$950

GEORGIA'S OWN Scenario

	Rate: 2.97%	Annual Interest	Annual Interest (After Tax)
1	20,000	594	416
2	20,594	612	428
3	21,206	630	441
4	21,835	649	454
5	22,484	668	467
6	23,152	688	481
7	23,839	708	496
8	24,547	729	510
9	25,276	751	525
10	26,027	773	541
	TOTAL:	$6,800	$4,760

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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
August 20, 2023	2.97%

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Compound Interest Calculator CD 2-year Account from GEORGIA'S OWN with 2.97% APY and $500 minimum deposit