Compound Interest Calculator
Money Market Account from LAKE MICHIGAN with 3.30% APY and $25,000 minimum deposit

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The product Money Market Account from LAKE MICHIGAN with 3.30% APY and $25,000 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 $27,672. The interest earned would be $7,672 and the tax amount on the interest earned would be approximately $2,301.

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 LAKE MICHIGAN

Savings Boost of
$5,050 over 10 years

Cash Savings $20,000

Average Interest Earned $320

LAKE MICHIGAN Interest Earned $5,370

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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	20,091	45	32
4	20,136	46	32
5	20,181	46	32
6	20,227	46	32
7	20,273	46	32
8	20,319	46	32
9	20,364	46	32
10	20,410	46	32
	TOTAL:	$457	$320

LAKE MICHIGAN Scenario

	Rate: 3.30%	Annual Interest	Annual Interest (After Tax)
1	20,000	660	462
2	20,660	682	477
3	21,342	704	493
4	22,046	728	509
5	22,774	752	526
6	23,525	776	543
7	24,301	802	561
8	25,103	828	580
9	25,932	856	599
10	26,788	884	619
	TOTAL:	$7,672	$5,370

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.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
My e-Banc, a division of Bradesco BAC Florida Bank	5.00%	$50,000	Learn More
Last change: ↑0.25% on October 28. 6 Month Jumbo CD.
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
Prime Alliance Bank	4.90%	$500	Learn More
Last change: ↓0.05% on September 27.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↑0.20% on October 28. Early Withdrawal Penalty is 3 months interest.

Compound Interest Calculator Money Market Account from LAKE MICHIGAN with 3.30% APY and $25,000 minimum deposit