Compound Interest Calculator
CD 1-year Account from Hingham Savings with 1.01% APY and $1,000 minimum deposit

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The product CD 1-year Account from Hingham Savings with 1.01% APY and $1,000 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 $22,114. The interest earned would be $2,114 and the tax amount on the interest earned would be approximately $634.

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 Hingham Savings

Savings Boost of
$685 over 10 years

Cash Savings $20,000

Average Interest Earned $795

Hingham Savings Interest Earned $1,480

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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: 0.55%	Annual Interest	Annual Interest (After Tax)
1	20,000	111	78
2	20,111	111	78
3	20,222	112	78
4	20,334	113	79
5	20,447	113	79
6	20,560	114	80
7	20,674	115	80
8	20,789	115	81
9	20,904	116	81
10	21,020	116	82
	TOTAL:	$1,136	$795

Hingham Savings Scenario

	Rate: 1.01%	Annual Interest	Annual Interest (After Tax)
1	20,000	202	141
2	20,202	204	143
3	20,406	206	144
4	20,612	208	146
5	20,820	210	147
6	21,031	212	149
7	21,243	215	150
8	21,458	217	152
9	21,674	219	153
10	21,893	221	155
	TOTAL:	$2,114	$1,480

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.

Recent Rate Changes

Date	APY
November 7, 2023	1.01%
August 19, 2023	1.65%

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Compound Interest Calculator CD 1-year Account from Hingham Savings with 1.01% APY and $1,000 minimum deposit