Compound Interest Calculator
CD 2-year Account from Institution for Savings in Newburyport and Its Vicinity with 2.25% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from Institution for Savings in Newburyport and Its Vicinity with 2.25% 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 $24,984. The interest earned would be $4,984 and the tax amount on the interest earned would be approximately $1,495.

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 Institution for Savings in Newburyport and Its Vicinity

Savings Boost of
$2,541 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
Institution for Savings in Newburyport and Its Vicinity Interest Earned $3,489

 

 

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 20,000 131 92
2 20,131 132 93
3 20,264 133 93
4 20,397 134 94
5 20,531 135 94
6 20,666 136 95
7 20,801 137 96
8 20,938 138 96
9 21,076 138 97
10 21,214 139 98
TOTAL: $1,354 $947

Institution for Savings in Newburyport and Its Vicinity Scenario

Rate:
2.25%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 450 315
2 20,450 460 322
3 20,910 470 329
4 21,381 481 337
5 21,862 492 344
6 22,354 503 352
7 22,857 514 360
8 23,371 526 368
9 23,897 538 376
10 24,434 550 385
TOTAL: $4,984 $3,489

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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 7, 2024 2.25%
July 22, 2024 2.50%
April 23, 2024 0.75%
December 16, 2023 2.25%


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Early Withdrawal Penalty is 3 months interest.

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Customer Reviews for Institution for Savings in Newburyport and Its Vicinity


  • January 23, 2017

    CDs 48 Month Rates

    2.50


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